Bank defaults, interest rate hikes, recession expectations, etc. have already led to a serious lack of liquidity in the cryptocurrency circle. Coupled with the sudden popularity of MEME, hot money has all rushed to MEME. Fortunately, Sun Ge has already announced his entry into MEME in a high-profile manner, which has ended the MEME fever.
However, #BTC the future trend is still not optimistic, and two trends are expected.
1. The most likely trend is the orange line
Currently, the overall trend does not have any bullish structure, but a bearish structure in a downward channel, so short selling is the main approach, not long selling.
There will be a small rebound over the weekend, probably at around 27,300. If it can reach 27,300 in these two days, you can look for opportunities to short at a small level of 15 minutes, provided that it cannot exceed 27,400, otherwise it will be the second blue line trend. I will explain in detail later.
So the first strategy is
Look for opportunities to short around 27300, stop loss at 27400, and short slightly above 25000.
Don’t rush to open an order when it reaches 25,000. You still need to wait for the market to react and the emergence of a bullish structure before entering the market. The probability of an interest rate hike in June is not small, so the volatility around 25,000 may continue for a long time.
Second, the probability of the blue line trend is also not small
As the MEME fever subsides, hot money has nowhere to go for the time being. In addition, it is the weekend, and the market only needs a small amount of funds to drive it. Therefore, it is very likely that there will be a sharp rise over the weekend, probably to 28,100, and then quickly return to around 27,500. At this time, it may continue to fluctuate downward, or it may re-hook with the U.S. stock market next week and directly pull to above 29,000.
However, it should be noted that the strength of this rebound determines the strength of the retracement of this round of rise to 3w. The stronger the rebound, the deeper the retracement.
If it only rises to around 27,300, then around 25,000 is the bottom of this round of retracement.
If it rises to 28,500 or even above 29,000, then 25,000 will not be able to hold it and it will have to continue to go deeper.
However, based on the current liquidity, the overall economic environment, and the cryptocurrency market environment, the possibility of a rebound to 29,000 is very small, but there is still a possibility of 28,100, and the probability of around 27,300 is even higher. Let's wait and see the situation in the next two days, and mainly short sell, not go long!
#ETH It is also moving in a downward channel and has a short structure, which is consistent with BTC.
One difference between ETH and BTC is that this week there were two cases where ETH's growth exceeded BTC's, but the overall trend still followed BTC.
ETH has two shorting points, look at the two positions of 1850 and 1885, look for opportunities to enter the market, stop losses at 1860 and 1890 respectively, and the take profit point is 1670.
I also recommend two currencies with higher short-selling profits
ANT and other white bevel positions are around 3.6. If there is no breakthrough, look for opportunities to open short positions with stop loss at 3.7 and take profit at 2.
After 3.7, continue to look for opportunities to open short positions around 4. Be careful not to open short positions blindly, but also look at the trend of BTC. If BTC rises significantly, other altcoins will rise with it to some extent. If BTC falls, altcoins will only fall more sharply.
Look for opportunities to open short positions near KAVA 0.97, with a stop loss of 1 and a take profit of 0.64.
The profit and loss ratios of ANT and KAVA are very high, both above 10, so it is worth a try.
