Preface: Investment has risks, and operations need to be cautious.
Article review takes time, delays in publication may occur, the article is for reference only, welcome to read!
This article was written on: July 13, 14:50 Beijing Time
Market Information
1. Tom Lee: Changes in U.S. Federal Reserve monetary policy are the main resistance to a weak crypto market;
2. Bitcoin remains around $63,800, market sell-off triggered by the Iran conflict;
3. South Korean stock market sharply fell, South Korean exchange triggered circuit breaker for the seventh time this year;
4. Cynthia Lummis: Push for the U.S. Treasury to purchase 1 million BTC within five years;
5. Federal Reserve Chair Kevin Walsh faces decision-making challenges, needs to decide whether to reverse last year's rate cuts;
Market Review
The weekend market saw slight fluctuations, with a peak at 64,675, and today, Bitcoin is experiencing a drop, with the current low at 62,447. Ethereum saw a peak at 1,846 over the weekend, with today's low around 1,773. Currently, the market is experiencing slight declines;
Market Analysis
Bitcoin
From the 4-hour chart, Bitcoin was oscillating around the pressure level of 64 over the weekend; on Monday, it fell. Previously, we recommended setting positions around the pressure of 64,000 for short positions, which currently holds a profit of 1,200 points. The four-hour closing candle at 12 o'clock displayed a strong bull trend. The bearish trend remains strong, and shorts can reduce positions to secure a break-even loss or continue to hold until the target with a break-even stop loss. The lower target remains in the range of 60,500-59,500. After reaching below 60,000, we can reassess for potential long opportunities based on market movements; manage risk for short-term trades and take responsibility for profits and losses;
Ethereum
From the 4-hour chart, Ethereum's upward momentum is slightly stronger than Bitcoin's, with a peak close to 1,848 for short-term highs, followed by a bearish candlestick with an upper shadow. Currently, it is in a strong bearish state, with trading around 1,777, close to the pressure area of this downward move. Previously, the short position was set around 1,780, and the stop loss was at 1,880, which has not been triggered. Currently, it's back around the cost price, and shorts can continue to hold with the stop loss unchanged; the target remains around 1,600. After reaching that level, we can reassess for long opportunities based on market trends; manage risk for short-term trades and take responsibility for profits and losses;
In summary:
After a weekend of oscillation, the market is moving downwards, with short-term room for further drops; continue to hold short positions;
The article is time-sensitive; pay attention to risks, the above is only personal advice, and for reference only!
Follow the WeChat public account Crypto Lao Zhao to discuss the market together;
The market is always more noise than signal; missed opportunities are not losses, and profits after leaving do not belong to you. Not all candlestick patterns need to be participated in; a day without trading is not wasting time.
Not every market phase goes smoothly, and not every trade is satisfying; that is just noise in the pursuit of profit. Rather than pursuing breakthroughs in technology, I focus more on mental construction. Most people do not lose to themselves, but lose to the self that confines them in difficulties.
Even if life or trading is not satisfactory, believe that there is light in the world and love among people. Even a small happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, people in the crypto world.
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