Crypto market analysis 6.13

Powell said the bull market is coming, and the next bull market will be a repair bull market

This round of Fed Chairman Powell said that although inflation data has slowed down recently, more good data is needed to enhance confidence in fighting inflation. At present, the conditions for interest rate cuts have not yet been met, and buffering continues. Management expects that,

He pointed out that the U.S. economy has made significant progress in terms of employment and inflation, but GDP growth is expected to slow down, and employment growth, although strong, has slowed down. The stagnant inflation process means that interest rates will have to wait longer and interest rates may not return to pre-epidemic levels. The timing of the first rate cut is critical to the economy.

So what does this important point represent? It means that the next bull market may not be very strong in funds, nor will it be restored immediately, but it also means that the market has not started yet, and everything is waiting.

Bitcoin continued to fall after rising high. As for the key position, the bottom was cast and it is waiting for another test before continuing to charge.

Daily level market

- The daily level is still a large-level upward trend. The bottom of the daily small-level correction is around 66,800, and the upper pressure is around 69,000.

4 hours level market

There was a rebound at the 4-hour level, with the bottom support rising to around 67,300. If it does not fall below, it will continue to see gains. The upper pressure is around 69,000 and around 70,000.

Intraday level analysis

-----The market is at a relatively critical position. If it falls, just focus on the support near 67300 and the final support near 66800. If the support is effective, the subsequent market will continue to be bullish, or the market will be repaired. The market is slowly digesting it. For Powell's speech, everything needs to wait. Whether it is a rate cut in the next few months, there will always be a rate cut this year. The market will slowly come back in the future, so just buy enough chips.

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