The market needs boldness, needs dancing, needs excitement, and needs a rush before Wednesday.
Weekly repair, the nearest support at the bottom is around 69000, the overall long support is around 68500, and the short-term target continues to be 71000. Ethereum support is far away, the nearest support is 3650, the maximum support is around 3550, and the short-term target is around 3850.
Back to the previous sentence, the daily fluctuation of spot prices is not because many people are doing spot trading, but because there is no capital in the market, too much is driven by derivative transactions. If all the derivatives of the current volume are liquidated, the price of Bitcoin will fall to around 55,000, but the possibility is not great. In an efficient market, long and short positions will be balanced.
After last week's large liquidation of derivatives, the bottom appeared this week. In the case of more shorts, we can once again bet on a charge by the long side of derivatives.
Arbitrum management approved an on-chain vote to allocate 225 million ARB (currently worth about $225 million) to fund game development on Arbitrum. The initiative aims to establish Arbitrum as the leading blockchain in the gaming sector. A vote will be held in the future to elect a council to oversee the initiative.
Daily level market
- The daily level is still a large-scale bullish trend, with the key position around 68500-68000. After breaking through and stabilizing, the bullish trend will reverse, and the upper pressure position is around 70000.
4-hour level market
In the 4-hour level, the price is falling, with the bottom support around 68,000. The nearest support is around 69,500, and the key pressure is around 70,000 and 70,800 above.
Intraday level analysis
-----The intraday level repair was successful, and two basic technical supports appeared, two heavier supports near 69500 and 68500. The upper pressure is near 70200, and you can play according to this support position before Wednesday night this week.
Now, the probability and profit and loss ratio of long positions are better than those of short positions. It is expected that there is a probability of returning to around 71,000 again before Wednesday or Thursday morning. After that, we have to wait for news to terminate most of the contracts. Whether it will be smooth sailing or bumpy depends on the impact of the news.
Personally, I predict that although some data look good and tend to be rate cuts, including Canada, it is only the second quarter of this year, and Powell is unlikely to cut interest rates at this point. In order to control expectations, it is estimated that the rate cut cycle will continue until around September. There is a very small possibility that there will be speculation about a rate cut in July, and then a game in September, and then a rate cut will be started and the market will bottom out. However, this is all speculation for the time being, and we need to see Powell's feedback. Wait a minute.
The market has changed very quickly recently. If you want to adjust your positions or don't understand the trend, you are welcome to communicate and learn. #BTC突破7万大关 #BTC☀️
