Crypto Market Analysis 6.18

A bamboo cane and straw sandals are lighter than a horse, who is afraid? A raincoat will protect you from the rain.

Speculative hot money is turning to AI-related stocks, which is bad for the crypto market, and the overall crypto market continues to fall. Speculative hot money is turning to AI-related stocks, which is bad for the cryptocurrency market. The current US stock market regards every piece of AI news as good news, and given the resulting FOMO, "cryptocurrency has lost its charm."  

There is only a certain amount of hot money in the market, and now all of this hot money is invested in the field of artificial intelligence. Until cryptocurrencies can break through some convincing narrative or constructive progress, cryptocurrencies will just trade sideways in the meantime, waiting for a major market impact. ”

In the last 24 hours, a total of 194,990 people were liquidated, with a total liquidation amount of $486 million. The main liquidation was long orders, and the upper liquidation price continued to be around 66,000 above and around 64,000 below.

Regarding the interest rate cut: Fed official Harker continued to manage expectations, saying that based on his current forecast, he believed that it would be appropriate to cut interest rates once this year, which emphasized the signal that interest rates may remain high.

Daily level market

- ​​The last defensive line of the daily level rise is around 63,000-62,000. After yesterday's successful rebound, it continued to fall. The intraday bottom support is around 64,000, and the upper pressure is around 66,500.

4-hour level market

There is a small level support near the 4-hour bottom of 64,500, and the upper pressure is around 66,000 and 67,000. The upper and lower liquidation market is still in a downward trend.

Intraday level analysis

-----Intraday market Yesterday's short-term game long orders were completed. Intraday longs are more difficult. Just pay attention to the pressure near 66,000 above. Rebound and continue to short. It will take some time to digest the market's decline after the ultimate moment. The expectation of wide range consolidation at the weekly level has not changed.

Don't listen to the sound of leaves being blown through the forest, why not sing and walk slowly. Bamboo sticks and straw sandals are lighter than horses, who is afraid? A raincoat will protect you in the rain.

Just get through this difficult moment in the history of encryption safely and stay calm when encountering things.