Brothers, this is incredible. This afternoon, the trustee of the Mentougou incident announced that the preparations for the original plan to use Dabing and Taizi for compensation have been completed and will be implemented in early July.
This is really a case of one stone causing a thousand ripples. Tangren has reported to you before that the number of coins that need to be compensated for the Mentougou incident is 141,686, equivalent to approximately 9.2 billion US dollars.
This is definitely bad news. As soon as the news came out, the market, which was already falling, plummeted again. In one hour in the afternoon, nearly 100 million US dollars were liquidated across the entire network, and 99% of them were long orders.
Although Tangren has analyzed in previous articles that 140,000 bitcoins will not cause a devastating blow to the market, nor will it trigger a black swan, but at this stage, all news will become an excuse for the dog dealers to crash the market.
If you have read Tangren’s previous analysis “Wash out, wash out, and wash out again, when will it end? ”, you will understand that the market has entered a medium-term bearish trend as Tangren expected, and the dog dealers will seize every opportunity to absorb funds.
Dog dealers will constantly release smoke bombs in the market to confuse retail investors, thereby creating the illusion that the market is about to collapse and that their accounts will be reset to zero at any time if they do not sell their chips.
Therefore, at this time, the investors who are not calm enough will surrender and hand over the bloody chips in tears. However, if we can discover the intention of the dog dealer and operate in the opposite way at this time, and gradually build positions in the low price area, we will be rewarded handsomely when the market returns.
What is being competed in the crypto circle is confidence and patience. It is indeed very painful at this time. Anyone would feel uncomfortable watching their account shrink every day, but please believe that tomorrow will be a bright future after you get through this wave. Whatever decline today will surely rise back by multiples tomorrow.
After today's market crash, Bitcoin is currently around 61,000. Judging from technical indicators, Bitcoin's daily line has entered the oversold area. According to past experience, there will be a rebound within a few days after Bitcoin's daily line enters the oversold area, and this phenomenon has never changed.
Therefore, Tangren believes that the iron bottom of 600 million will be difficult to break in the short term, and this round of correction is about to end. The key lies in the release of the PCE (Personal Consumption Expenditure Price Index) data this Friday.
Last week, several senior Fed officials made hawkish remarks, which gave short sellers an opportunity to act arrogantly. In Tangren's opinion, such an attitude is a bit stubborn. The global central banks have entered a cycle of interest rate cuts one after another and it is unstoppable.
Tangren has said before: The Central Bank of Canada fired the first shot, followed by the European Central Bank, then the UK, and finally it was the UK's turn. If the PEC data on Friday is lower than expected, there will be two interest rate cuts this year, and the first one will be in September, which is likely to happen.
Everyone was panicking but I was greedy. Just when the leeks were still trembling with fear due to the sharp drop, Sun Ge made another move today and bought 4628.9 pieces of Yi Tai on BN. For three consecutive days, Sun Ge has bought 13967 pieces of Yi Tai.
We can doubt Sun Ge's character, but please don't question Sun Ge's investment vision. So far, every move made by Sun Ge has basically been a great success. Therefore, Tang Ren once again reminds everyone not to think that the crypto market is over once the market falls. Real investors will always remain calm, patient and courageous.
Finally, let’s return to the core. In a bull market, what to buy? How to buy? It is very important, but when to sell is more important. If you want to know more about the market interpretation and strategy, add a follow, find Tangren, and play in the crypto circle together.
Tangren’s interpretation of the market
Big Cake: Big Cake market hit a new low of 60567. The hourly line had repaired a wave of market. Because of the news of the Mentougou incident, it caused a sharp drop. It is not ruled out that the dog dealer used the news to ship. However, whether it is the last drop or not depends on whether the 61000 position can stand firm. I personally think it is the last drop. Spot can boldly buy the bottom. The upper pressure level continues to be 64500 and the support level is 60500.
Auntie: The market hit a new low of 3240. The current market has quickly pulled back, indicating that the bottom is still supported. Moreover, Ethereum has also been adjusted for a long time under the circumstances of clear positive factors. It is right to buy the bottom at the current position. The upper pressure level is 3470. The support level is 3250
In terms of cottage industry: the cottage industry sector followed the callback of Bitcoin, but it is obvious that the downward momentum continues to weaken. Now many sectors are almost all low-priced chips. Those with short positions can buy at the bottom, and those with heavy positions can also buy at the bottom appropriately to reduce costs. Pay attention to the MEME and SOL ecological sectors as well as the old cottage industries in the early stage.
Tangren talks about strategy
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies cannot be shared with everyone in a timely manner. Therefore, you can read the introduction on the homepage of the article to find Tangren and send a message to receive it.
The essence of Tangren's trading strategy: the first step is to determine the trading cycle, the second step is to confirm the trading direction, and the third step is to formulate a trading plan. The plan must clearly state: where to enter, why to enter, how much to enter, how to exit, where to exit, and why to exit?
What should you do if you get the market right? What should you do if you get it wrong? If you don’t understand the market, don’t give yourself problems.
Each of my plans includes three predetermined results: exit with a stop loss, exit with a breakeven, and exit with a profit. Regardless of the result, I will review and summarize the gains of this plan after the plan is completed.
