Crypto market analysis 6.21
Triple witching day is coming, US stocks will be liquidated for 5 trillion, crypto crisis?
With the arrival of triple witching day in the US stock market every quarter, the volatility of the US stock market has begun to increase, and the currency circle will also be greatly affected. Nvidia will lose more than half of its derivatives driving force. It is highly likely that the US stock AI will start a period of repair after the end of this round, temporarily targeting Nvidia.
On triple witching day, the US stock market plunged, and the crypto continued to weaken and bottomed out. It is highly likely that it will not hold up, and the market will try to bottom out again.
In an interview with CNBC on Thursday, Kraken CEO Dave Ripley said that the Biden administration is "softening" its stance on cryptocurrencies. "When people really take the time to understand Bitcoin and cryptocurrencies, there is almost always a positive result," Ripley said in the interview.
With NVDA becoming the company with the highest market value in the world, the popularity of related companies in the field of AI has further increased. In the field of crypto assets, NEAR and RNDR are both good AI targets with extremely high hype value. NVDA will have a wide and far-reaching impact on various projects and companies in the AI track. The rise of NVDA will reshape the valuation of other companies in the AI track, so it is a big positive for AI-related companies in the crypto field.
Daily level market
- The daily level is still in a downward trend, with upper pressure around 65,500, support around 64,000, and a large-level bottom around 63,000.
4-hour level market
The 4-hour level rebounded in a short period, and it is still in a bearish trend for the time being, with upper pressure around 66,000, lower support around 64,000, and the extreme support around 63,700 slowly raising the bottom.
Intraday level analysis
-----Even if there is a rebound in the intraday market, we should pay attention to the breakthrough near 66,000. If there is no breakthrough, it is mainly short orders. The bottom is stable on Friday near 64,000, but considering that today is a liquidation day for US stocks, it is temporarily short. The best result is to keep it short or not move. The support below is near 64,000. If it falls below, continue to try the previous low. The large-scale downward trend has not stopped. The daily level has a chance to come to 60,000 again.
Just get through this difficult moment in the history of encryption safely and stay calm when encountering things.
