- [Review] -
Yesterday's rebound, after the data was announced, peaked at 68450 and then started to plummet in a straight line. The lowest point was reached at 66250 in the early morning. Obviously, the position of 68000 was just pierced and could not be effectively stabilized. This is also what the original text said, if it cannot effectively cross 68000 yesterday, then please continue to decline. Although it has not fallen below the previous low of 66050 until now. But who can predict what will happen today? Right?
- [Today's Market Analysis] -
Old Liquor Trading Diary: Daily Interpretation 6.14
① Intraday ultra-short-term - Resistance: 67600-67800
Even if the weak market breaks through this price range, it will probably encounter resistance and fall back at the high point formed by yesterday's rebound, around 68450. To break through here, it is necessary to see medium to large bullish candles on the hourly chart.
② Intraday ultra-short-term - Support: 65600-65900
In this round of daily decline or 12-hour decline, there is probably not much room for further decline below. Unless I see medium to large bearish candles. But it is relatively difficult to see. Therefore, even if the price falls below the previous low of 66050, there is a high probability of finding support at 65600-65900 and then rebounding. In addition, if this price range cannot hold, there is also the 65000 level.
Summary: There is not much room for further decline below. Bulls can be ready at any time.
- [Cryptocurrency News] -
Ethereum Becomes the Second Largest Holder's Purchase Day in History?!
On June 12, just before Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), predicted the approval of a spot Ethereum ETF, the price of Ethereum fell below $3,500, leading to a surge in demand from long-term holders.
Demand for Ethereum surged. Yesterday, the purchase volume of long-term holders reached the second highest in history, which is 298K ETH. The record for the highest daily purchase volume was set on September 11 last year, with a single-day purchase of 317K ETH.
At a time of increased demand, the price of Ethereum has fallen by 8.49% in the past seven days. Ethereum initially fell below $3,800 on June 8 and failed to rebound, but has remained above $3,400 during this period.
Past price trends indicate that the area around $3,500 is a stubborn resistance level for ETH bulls. Some also point out that this may not be the end of the decline, as it fell below $3,500 on April 11, with a 25% decline by May 2, reaching a low of $2,814.
Meanwhile, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, predicted to senators at a Senate Banking Committee hearing that regulatory agencies may sign final approval for the listing and trading of spot Ethereum ETFs within three months. On May 23, the U.S. Securities and Exchange Commission approved the 19b-4 applications of 8 applicants, preliminarily approving the regulatory requirements for the U.S. spot Ethereum ETF. However, trading can only begin after the S-1 registration statement is also approved.
Personal opinion, for reference only
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