As a new week begins, the trend remains bullish!
Bitcoin was so powerful over the weekend. After Powell's dovish remarks, it directly broke through the resistance of the 61,000-62,000 range and reached above 65,000. At present, confidence at the market level has been rekindled.
BTC has broken through the rebound pressure level of -62,000, which is a strong performance. Whether you bought in the pullback last week or bought more when it just broke through, you can continue to hold it patiently with a stop loss.
If the price falls back but does not break the rising trend line, it will continue to rebound, but it needs to stand firmly above 67,000 to confirm that the trend has reversed.
Unless there is a black swan, the market will basically not fall sharply. After adjusting for so long, the market should move forward! The main thinking is low and long, and the pin can be connected!
The current key market position is around 6.35w, which is the moving average support position of the 5-day line, 120-day line, and 200-day line resonance, and is also a support line at the 4h level in the figure below.
Therefore, this price is very critical. If it can continue to hold sideways for the next two days, then the breakthrough here is valid and the bullish trend continues. If it falls below, the gains on Friday night are likely to be swallowed up again, and the market will go back to where it came from.
This week’s focus:
(1) Nvidia’s financial report will be released on Wednesday. If the stock price drops sharply, the AI sector in the cryptocurrency market will also fall.
(2) PCE data released on Friday, lower than expected, positive, high negative
$TON plummeted after TG founder was arrested
After the arrest of TG’s founder, TON’s TVL plummeted, with most of the investors being institutions seeking emergency risk aversion.
The TON public chain has been doing well this year, leveraging the advantages of TG to guide users into the public chain, that is, entering the web3 field.
This is both an advantage and a disadvantage, because it is too dependent on a certain entity or person, just like the previous case when CZ faced US charges that led to the sluggish price of BNB. These risks are black swan events, which cannot be predicted in advance.
Many friends asked, is it possible to buy at the bottom when TON falls so sharply?
The following are my personal opinions:
First of all, the market value of Ton is actually very high, and it has already ranked among the top few in CRYPTO market value. In terms of K-line, the volume of this negative column is very large, and the decline is quite deep and straight. It will go down again after a pullback. If nothing unexpected happens, US capital should have shorted Ton long ago, and the release of news is a later matter, and the news transmission.
Current holdings:
Eth Sol Ordi Sats Op Wif Bome Bonk Stx Wld Api3
In addition, the current market needs to focus on the upcoming hot spots and news, which may become the next catalyst for the market. For example, Nvidia’s financial report to be released this week is expected to drive the rise of the AI sector. In addition, it may be beneficial to related currencies such as LUNA, USTC and VGX.
At the same time, you can also add some small-cap altcoins that have not yet been significantly pulled up to the watch list, waiting for the opportunity of market rotation. For example, LINA, COMBO, BEL, PERP, GTC, OGN and other once-explosive currencies will have performance opportunities again.
