Starting today, I will update my analysis of the cryptocurrency market on Binance feed every day. Welcome to follow and forward. (Any market analysis is personal subjective analysis and is for reference only.)
From the above picture, we can see that Bitcoin has mainly gone through these four processes this year.
16700-24800; 24800-20000; 20000-30500; 30000-26000. Currently it is fluctuating in the range of 26000-28000.
In terms of the general direction, some old fans knew that I had seen the price drop to 16,000-17,000 at the end of last year, and said that it was time to buy at the bottom. When the CPI was announced on the evening of January 12 this year, BTC rose to 18,000, and I was optimistic about the subsequent trend. Later that night, the price rose from 18,000 to 19,000.
There were several subsequent predictions, for example, 24800-20000, with people shouting "buy the bottom" around 20000, and then it went directly to 30000. You can look at the relevant historical messages on the feed.
Let’s not talk about the previous ones for now, let’s talk about the general direction of Bitcoin. Currently, BTC has fallen from 30,000 to 26,000, and has been fluctuating in the range of 26,000-28,000 for almost a month from May 12th to now. In the big direction, I am still optimistic about the subsequent upward trend. If BTC does not fall below 25,000, it will not change the rebound from the bottom of 16,000 to the current overall upward trend. It needs to effectively break through 29,000-32,000 to continue to move towards the next target of 36,000. And I judge that the market is about to change and it is about to move out of the current range of fluctuations. In addition, WeChat, an app with billions of users, also supports search and display of real-time Bitcoin quotes.
Short-term strategy: long positions at 26800-27100, stop loss at 26200, take profit at 27800-28600.
Ethereum is currently at 1890. The overall volatility this year is greater than that of Bitcoin. It has been fluctuating around 1800 for almost a month. It is also about to change with Bitcoin.
Short-term strategy: long layout at 1850-1890, stop loss at 1830, take profit near 2000.
Altcoins
Lina Last Sunday and Friday, I also reminded Lina in a short message that there will be a good wave of 📈. At that time, the position was still $0.013, and now it is $0.027, which has doubled. The performance is too strong. The current market value is 150 million US dollars, ranking 176. This coin is expected to have a good rise in the future. Too many people are shorting it, which will become the fuel for the rise. The expected target is 0.053. If there is a good pullback, you can consider re-entering.
Joe is currently at $0.46. In the group, it is said that it is possible to make a layout near 0.4. This wave of bottom started to move at 0.3. For short-term layout, you can consider taking profit at 0.55-0.6. For long-term, you can make a fixed investment.
The lending projects on the arb chain have been trading sideways around 0.3 for a month. Spot traders may consider ambushing and waiting for subsequent increases.
