Master Discusses Hot Topics:

With the US stock market rising last night, Bitcoin stubbornly fell below 101k in the early morning. This wave of correction has led a group of leveraged traders to shout about a crash, calling for 91K and 83K, and even Ethereum has been pushed back to 1800 and 1000. What kind of vision is that? Is this little fluctuation enough to spell disaster? Are they trying to clean out retail investors' balances?

First of all, there is no problem with market liquidity; the bulls are still holding on, and the weekly golden cross is still there! If it were really as they say, a crash, why is the golden cross still intact? This wave is just a normal washout; the trend is not over yet. Don't be scared off by those loud-mouthed bears; their volume doesn't mean they have any real insight.

Looking at the macro situation, the Federal Reserve is once again easing, with QE reopening, and a potential rate cut in mid-June and July. A large amount of US Treasury bonds will mature at the end of June. Do you think the Americans would suddenly stab the market at this time? Wake up; the funding situation remains as loose as ever, and after the washout ends, there will still be a good opportunity to get in.

As for the target, Master still sees new highs. Yesterday, Bitcoin surged to 106K, less than 4% away from the historical high. The chips that were stuck in the last round are almost all resolved. After this wave of washout, new highs are a certainty, with the first target being 110k!

In the short term, the liquidity for the bulls below has not reached the liquidation threshold. There is no strength in either direction, and a big surge is not possible; it can only oscillate in the range of 106k to 106.6k for now. After the oscillation, once enough accumulation is achieved, another wave of surge will come.

To be honest, this slight decline doesn't even show the shadow of a bear market. Who the hell runs away at the first sign of a drop? Those seasoned traders who have been through 2017 to 2019 know better!

Thinking of pulling out without enduring the storm? Haha! Those who truly understand the market are waiting for an explosion; the inexperienced traders shouting will only get washed away by the waves. Do not blindly follow the crowd; when the opportunity arises, take action. Learn from your mistakes; the turning point has not yet arrived, and those who understand the market have seen it clearly!

Master Looks at Trends:

Resistance Levels Reference:

First Resistance Level: 104000

Second Resistance Level: 102800

Support Levels Reference:

First Support Level: 101500

Second Support Level: 100600

Today's Suggestions:

Since the low point in April, Bitcoin has rebounded over 40%, and a correction at high levels is inevitable. The current price is hovering around the 102.3K range, with both bulls and bears repeatedly battling at this point.

If the price breaks through and stabilizes above the first resistance level of 102.8K during the day, a short-term rebound is expected to continue, further testing 104k. If Bitcoin stabilizes above the second resistance level of 102.8K, pay attention to the selling pressure near this position.

If the price falls below the first support level of 101.5k, be cautious of an N-shaped downward trend, with the next focus around 100k, which is also the position of the 200-day moving average.

If it breaks below the previous second support level of 100600, this range will also become a testing point for the price. Currently, frequent back-and-forth movements between bulls and bears are expected in the short term. If the price falls back around 104K, it may find support around 101K, presenting an overall box oscillation trend.

5.13 Master’s Wave Strategy:

Long Entry Reference: Buy in batches in the 100600-101500 range, Target: 102800-104000

Short Entry Reference: Sell in batches in the 103200-104000 range, Target: 101500-100600

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). Master Chen is the same name across the internet. For more real-time investment strategies, liquidation, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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