$BTC This week’s last day, we see the current market stuck around 64500, which is a strong resistance level, with the watershed at 67500 above.
Last time, it broke 67500 and was close to 60000, but will it approach 67500 this time?
Looking at the overall market, the long-term 12-day MA indicators are seriously lagging behind. No need to consider that the market will inevitably drop; it’s either going to continue consolidating at the bottom or break down to new lows.
The mid-term 4-6 hour indicators are also lagging due to being overly lifted by short-term indicators. The mid-term MACD has broken the zero line, which is a normal occurrence. To put it simply, bears are dominating, harvesting some gains, and then trying to lure in more buyers. If the long-short ratio doesn’t meet the market makers' requirements, we’ll continue to see friction at these high levels. However, from the candlesticks, we can see on June 8, the high was 64200, and on June 14, it was only 64700, with the overall trend in a slight upward consolidation. The latter part of this week’s trend will also be a slight upward consolidation, with the increase even less than last week's big drop.
This is a classic situation where the market could crash at any time, but the lure for more buyers hasn’t met the market makers' requirements and is just hanging there. For retail traders, in this kind of market, either play the swings or set up short positions; the bottom consolidation still needs to continue, and there’s even a chance of breaking to new lows.
If bears get trapped, it’s no big deal; just manage your position and wait for the drop. As for 67500, it’s basically unlikely to reach that level; the long-term indicators are too lagging now, and the market is set to come down at any moment.
This week’s market saw CPI data released, leading to a crash in US stocks and gold, with some funds flowing into BQ as a result. However, US stocks will always pressure BQ; as long as the market makers get the long-short ratio they want, they will naturally sell off. In fact, from the current trend, it’s clear they’re eager to sell off.
Just wait patiently for the crash; this is merely a funds rotation harvesting, and in the end, everything will revert to normal.
Last time, it broke 67500 and was close to 60000, but will it approach 67500 this time?
Looking at the overall market, the long-term 12-day MA indicators are seriously lagging behind. No need to consider that the market will inevitably drop; it’s either going to continue consolidating at the bottom or break down to new lows.
The mid-term 4-6 hour indicators are also lagging due to being overly lifted by short-term indicators. The mid-term MACD has broken the zero line, which is a normal occurrence. To put it simply, bears are dominating, harvesting some gains, and then trying to lure in more buyers. If the long-short ratio doesn’t meet the market makers' requirements, we’ll continue to see friction at these high levels. However, from the candlesticks, we can see on June 8, the high was 64200, and on June 14, it was only 64700, with the overall trend in a slight upward consolidation. The latter part of this week’s trend will also be a slight upward consolidation, with the increase even less than last week's big drop.
This is a classic situation where the market could crash at any time, but the lure for more buyers hasn’t met the market makers' requirements and is just hanging there. For retail traders, in this kind of market, either play the swings or set up short positions; the bottom consolidation still needs to continue, and there’s even a chance of breaking to new lows.
If bears get trapped, it’s no big deal; just manage your position and wait for the drop. As for 67500, it’s basically unlikely to reach that level; the long-term indicators are too lagging now, and the market is set to come down at any moment.
This week’s market saw CPI data released, leading to a crash in US stocks and gold, with some funds flowing into BQ as a result. However, US stocks will always pressure BQ; as long as the market makers get the long-short ratio they want, they will naturally sell off. In fact, from the current trend, it’s clear they’re eager to sell off.
Just wait patiently for the crash; this is merely a funds rotation harvesting, and in the end, everything will revert to normal.