Brothers, this is terrible. Something big happened in the crypto circle again. Yesterday, OK announced the suspension of user transactions and the withdrawal of the VASP license application. Hong Kong users can only withdraw coins after May 31st. Orders placed after the 31st will be canceled and the balance will be returned to your account. It seems that after Li Lin's failure, Boss Xu has also backed down. From now on, mainland players can only play this game secretly.
From this point of view, Binance is still awesome. CZ had the foresight to go overseas in advance to avoid risks. Although it was inevitably robbed, at least the business was saved. OK, after all this trouble, BNB should be able to rise again.
No matter what, it is difficult for us to comment on this matter and we can't do anything about it. We can only wish OK all the best. The market is permanent but the exchange is changing. It would be more practical for us to pay more attention to the market.
If the arrival of the Bitcoin spot ETF opened the door to a bull market, then the Yitai ETF is like turbocharging this bull.
This is a surprise after two years of silence. There is no doubt that after 19b-4 was passed, the transformation of Yitai has been completed. It is no longer a "security" that people criticize, but a legal commodity that can be accepted by major Wall Street institutions with the same attributes as the big cake.
It is only a matter of time before Yi Tai becomes a deity in the future. Tang Ren has even foreseen that in the coming bull market, with the continuous influx of funds from ETFs, it will not take much effort for Yi Tai to break 10,000.
As the king of copycats, Yitai is the key to driving the copycats to take off. From the previous bull market, we can see that Yitai’s price performance determines the direction of copycats, and copycats determine our biggest profits in the bull market.
According to institutional news, the Yitai ETF could be listed for trading as early as mid-June, and could be on track at the latest in early July. Judging from the time, there are less than 30 days left for market speculation to heat up.
This period is also the last time for the dog dealer to wash out the market and harvest before the arrival of the large-scale market. Once you survive this stage, coupled with the high probability of the Federal Reserve's interest rate cut in September, do you still think that the price of 10,000 is a pipe dream?
The interest rate cut policy in September will directly affect the market liquidity and investor sentiment. If the interest rate cut comes as expected, the ecology of Yitai will take off in an all-round way, thus triggering the copycat season, and the currency price will soar to the sky. Tangren has always been optimistic and believes this.
However, before that, the market still has to withstand Grayscale's 3 million coins dump. Perhaps some friends will ask, why doesn't Grayscale dump the market now?
Because it’s not that he doesn’t want to, but that he can’t. Grayscale’s holdings are locked, and the selling pressure can only be unlocked in the U.S. stock market after the Yitai ETF is listed.
In 2020, Grayscale held 3 million Ethereum coins at a cost of $300-400. So far, the investment returns have reached more than 10 times, so Tangren believes that Grayscale will definitely sell off the ETF after it is listed.
However, there is no need to worry too much, because there is Grayscale in the market, but there is also BlackRock. Judging from the experience of the Bitcoin ETF, BlackRock has demonstrated its true nature as a giant.
From June 2023 to May 2024, the price of Bitcoin increased from 25,000 to 73,000. Regardless of the price changes, BlackRock continued to frantically buy Bitcoin in the market and earned a 190% profit increase.
Tangren believes that BlackRock will not miss the opportunity to get the dividends from the Yitai ETF this time. Based on yesterday's spike and wash, Tangren believes that Yitai 3000 should be the iron bottom in this early stage of the bull market, and subsequent operations can make decisions based on this.
The market performance this week is actually pretty good. The Bitcoin ETF has had net inflows for nine consecutive days, funds are slowly flowing back, sentiment is gradually rising, and the UK has also approved the Bitcoin ETF. The market is quietly undergoing major changes, and making money depends on ambushing in advance rather than chasing highs and selling lows.
Next, the auntie rises strongly, and the copycat rotation takes off. If you are still struggling with what to buy and how to buy in the future market, it doesn’t matter. Add a follow, find an assistant, bring your friends, and Tangren will eat meat with you. (Reminder that today’s essence is in the Tangren Strategy section at the bottom)
Tangren interprets the market
Dabing: Dabing is mainly fluctuating in the range of 68300-69300 as predicted in the morning report. The daily trend repair is getting better and better. At present, we still need to see whether it can effectively stand above 69500. The market continues to be bullish, with the upper pressure level at 69500 and the support level at 67800.
Auntie: Ethereum's daytime market is slightly strong, but it still has not broken through the triangle range of 3620-3820, which means it still needs to clean up for a while. At present, we should focus on whether it can effectively stand above 3800 to start a new round of market. There are opportunities to buy at low prices. The upper pressure level is 3850 and the support level is 3660.
In terms of cottage industries: during the day, there is a feeling of a hundred flowers blooming in the cottage industries, with MEME and NFT sectors leading the gains. The RWA track and LSD mentioned in the Tangren Morning Post also rose well. There is a trend of old cottage industries starting up, so you can pay proper attention to it. Currently, the focus is on the RWA track, MEME, and SOL ecology.
Tangren talks about strategy
Strategy 1: The entry price of SSV on May 16 was 36-38.9, and the current price is 49.87, with an increase of 40%. Most of the positions can be sold in the short term, and the long-term target is 180.
Strategy 2: Ambush W on May 18, entry price is 0.56, current price is 0.58, there is a certain increase, continue to observe, sit tight and hold, target price is 0.8.
Strategy three: (new) On May 20, ambush WLD, entry price 4.8, current price 4.75, WLD shows signs of picking up, continue to observe patiently, short-term target 8.5, long-term target 21.3.
The article has a time limit. The real-time strategy of each day will be announced in the Tangren Strategy Group. If you are interested, follow Tangren and Assistant Jia Weixing. Leave your thoughts in the comment area and play and make money in the crypto circle together.
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.
