Master Discusses Hot Topics:

First, let's talk about some of the most frequently asked questions from friends, which is how to view the recent market? In summary: it seems to be a fluctuating upward trend, but in reality, it's just crawling while pretending to be dead. The big coin is indeed slowly inching up, but short-term bulls and bears are still taking turns to eat.

You might think this wave of market is being supported by institutions, but in fact, they are just trying to keep you from making rash moves. Additionally, some people say that the big coin has entered an eternal bull market; if you believe that, you deserve to be harvested.

The crazy bull market before December 18 last year is still fresh in memory. Can this little rebound in altcoins be called a bull market? At most, it's just a twitch at the weekly level, and it hasn't even escaped the phase of falling and catching its breath.

Looking back after early April, more people started calling for a bull market, claiming that more and more institutions are in the game. They want to support the market and won't let it drop deeply. It does sound reasonable, but the problem is that these institutions are protecting their own positions, not your trapped orders.

Don't be fooled by the three months of fake moves by the Federal Reserve this year, trying to trick the market into thinking that interest rate cuts are far away. Bad news keeps coming, and in reality, it's just cutting both shorts and longs.

Moreover, the big coin has never taken off immediately after a halving. Looking at historical data, which bull market didn't explode after a halving? Then comes a geopolitical crisis or an economic black swan, bursting the bubble, and the bear market quietly comes to the table.

Now that the big coin is above 100K, many who surged from 17K have already cashed out. The remaining people still want to fantasize about spot prices soaring again; it's time to wake up. Moving from 10K to 90K is a pleasure, but who wants to take the last baton?

Back to the market, the dip in the early morning directly destroyed the small bullish structure. Although technically it's a long wick, structurally it means the small trend couldn't hold and got knocked down. Now the small bullish trend has turned into a fluctuating structure, and trend trading must pause at this time.

Currently, there is a pile of bullish liquidity stacked between 103K and 102K, and the bears have just been swept. Now the main force is sharpening its knives, preparing for the next game to start.

As for the current structure of the big coin, it's a chaotic fluctuation area that even dogs would dislike, with weak funding sentiment. There are still a lot of messy issues outside; American data is as good as no data, and geopolitical politics come wave after wave. There is no coherent narrative, the market lacks sentiment, and funds lack patience.

Currently, I personally believe that at a larger level, this area will form a triangle convergence, and the pile of bullish liquidity below is likely a false breakdown. The liquidity around 110K above is the gold mine that the main force wants to dig, but don't forget that it might turn into a false breakout after clearing.

Master Looks at Trends:

Resistance Level Reference:

Second Resistance Level: 110200

First Resistance Level: 108600

Support Level Reference:

Second Support Level: 106500

First Support Level: 105000

The big coin failed to break through 109K and instead retreated. The current downtrend has eased and started to rebound, indicating that important support and trends have not been broken. Maintain the rebound strategy, but be cautious of risks in the 109K–110K range.

The short-term upward trend line is currently supported. Pay attention to the 120 and 200-day moving averages during the day. Take partial profits in the 109K–110K resistance range to lock in short-term gains.

The first resistance level at 108.6K is also yesterday's closing high, which has short-term pressure. If it rebounds to this range, consider exiting in batches. The second resistance at 110.2K is a larger resistance area; if approaching this range, pay attention to trading volume before deciding whether to take profits.

The first support at 106.5K is a short-term support level. If you are aggressively going long, you can position yourself in this area while also watching if the 120-day and 200-day moving averages can provide short-term support. If the price continues to break below the 120MA and falls to the second support at 105K, the short-term bullish outlook will be broken, opening up a downward channel.

6.17 Master’s Wave Strategy:

Long Entry Reference: Buy in batches in the 106000-106500 range. Target: 108000-108600

Short Entry Reference: Not currently applicable

If you truly want to learn something from a blogger, you need to keep following them, rather than making rash conclusions after just a few market observations. This market is filled with performers; today they screenshot long positions, and tomorrow they summarize short positions, making it seem like they "always catch the top and bottom," but in reality, it's all hindsight. A truly worthy blogger will have a trading logic that is consistent, coherent, and withstands scrutiny, rather than jumping in only when the market moves. Don't be blinded by exaggerated data and out-of-context screenshots; long-term observation and deep understanding are necessary to discern who is a thinker and who is a dreamer!

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you want to learn more about real-time investment strategies, unlocking positions, 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 quality experience projects like community live broadcasts!

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