Crypto market analysis 6.08

The news has a huge impact, wait for repair over the weekend

Morgan Stanley will delay the timeline of the first interest rate cut to November. The overall sentiment has been severely frustrated. The probability of no cut in June is still very high. Because of the interest rate cuts in several other regions, everyone has raised the Fed's interest rate cut expectations, but this round of news has directly led to another setback in market confidence. It is expected that the market will be repaired after a period of time over the weekend. In the long run, it will slowly give opportunities to fall again.

The real influence on the market in this round has become ETF. Pay attention to the inflow and outflow of ETF at any time, and slowly push up the price, but this round of decline has not caused any major impact. Spot continues to buy and absorb funds. It is expected that the long and short will continue to play on the 14th. Wait at ease at this time.

Daily level market

- ​​The daily level is a breakthrough upward trend. The 68500 position is the overall upward channel support. Pay attention to the defense of this position. The upper pressure is shifted to around 70300, the bottom support is around 68500, and the middle track strength and weakness line is around 69500.

4-hour level market

The trend reversed after the 4-hour level pin, and the retracement to the upper 71200 is a heavy pressure. The 70000 is regarded as the middle track pressure. If the 4-hour price continues to fall, it may find support near 66800-66000. There is no need to rush step by step.

Intraday level analysis

-----Bitcoin began to fall during the day. Don’t look at the volatility of the big cake on weekends. After all, all factors affecting the market will rest on weekends. The dealer is not a cow or a horse, but you and I are cows and horses.

The upper pressure of the intraday level is around 69800-70000. For the time being, we will see the market repair for two days on the weekend. If Bitcoin does not fall below 68500, it can still continue to see the battle above 70,000 after the weekend repair.

If 68500 falls below, the support will come to around 67500. There are too many market news influences. In the big cycle, buy slowly and wait slowly. The overall situation is in a wide range of fluctuations. If it comes to around 62000 again, just wait for the bottom to continue.

The market has been changing rapidly recently. If you want to adjust your positions or don’t understand the trends, you are welcome to communicate and learn.