Pessimists complain about the wind, optimists await a change in direction, and the wise adjust their sails. In trading, without goals or expectations, where does the motivation come from? One must learn to occasionally fantasize, but not become obsessed with it. There is a popular saying on the internet: a planned life is called a blueprint, an unplanned life is called a puzzle. Trading is the same. During fluctuations, reduce impatience and increase calmness; during unilateral movements, reduce impulsiveness and increase determination.

Hello everyone, I am trader Gege. Continuing from the previous article, the recent retracement of the market has been agonizing for the bulls. There are about 3 days left until the halving, and the market may become even more volatile before and after the halving. Regarding the long-term view, it remains as mentioned in the previous article. After the halving, the expectation of a cyclical bull market still exists, it just requires waiting for the timing of the outbreak. Perhaps it will be in July, August, or even October. If everyone's expectations are aligned, then the scythe of the Wall Street main force will be even sharper. We don't need to think too much, just hold our ground.

Returning to the technical aspects of the market, the original expectation for the market in April was to rise above the previous high before retracing, but it did not happen. The weekly chart has been continuously declining, breaking below the 7-day moving average. The daily chart has dropped below the 60-day moving average, the Bollinger Bands have opened, and the MACD fast and slow lines have approached the 0 axis. This area deserves special attention. If it can form support and cross upwards, the bulls can then usher in a wave of upward movement; otherwise, the probability of further decline will be even greater.

In the short term, after the virtual breakthrough of 60,000, there is a high suspicion of a rebound to lure in more buyers. In any case, we can first look at the round number of 60,000 and the previous low point of the pin. If it is broken, then we need to look at the 59,000-58,000 range. Once breached, the probability of testing the 55,000-53,000 range will increase. Currently, in the short-term market, it's better to observe more and act less, especially at this critical time. It's not too late to act after confirmation, so pay more attention to the prices above. In order to lighten the load, the bulls will definitely need to shake off the unsteady spot players. As for the subsequent market trends, more observation is needed, after all, there is no strong and obvious reversal in the technical aspects at the moment. I also have spot contracts that are trapped, which is normal. Let's keep an eye on it while moving forward. Today's article ends here, see you next time. For more real-time advice from Gege, please refer to the next issue. The advice is for reference only. Enter the market with good risk management, and determine profit and stop-loss levels on your own. Consult specific strategies during trading.

Treat the people you meet well, regardless of whether you will meet again. Do your best in everything you experience, regardless of success. Time keeps flowing, and everything will pass. Life can be long or short, but what's most worthy of respect is that every road traveled is without regret or guilt.

By / Trader Gege, a friend willing to accompany you in starting over

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