Good evening, brothers!
Today the market is doing well, but many people feel it's still lacking because it hasn't broken through 4000 points.
What can I say? I believe we will definitely surpass 4000 points, and there is a possibility of reaching 5000 points.
My trading strategy remains to buy on dips and sell on rises. Today, as the market went up, I took profits and reduced my position to below 60%.
Currently, the Shanghai Composite Index has a trading congestion level of 77, the Shenzhen Composite Index has a congestion level of 69, and the ChiNext Index has a congestion level of 72. Overall, the market is too expensive.
……
The U.S. government's debt burden is accelerating towards deterioration, surpassing Italy and Greece for the first time this century, countries that have previously fallen into crisis due to weak public finances.
According to the latest forecast from the International Monetary Fund (IMF), by 2030, the total government debt of the U.S. is expected to soar more than 20 percentage points from the current level, reaching 143.4% of GDP, setting a new historical record post-pandemic.
The IMF estimates that the U.S. budget deficit will remain above 7% of GDP every year before 2030, making it the highest deficit economy among all wealthy countries tracked by the organization. In contrast, the government debt burdens of Italy and Greece are expected to decline by the end of this century, as both countries strictly control their budget deficits.
BTC: On the 4-hour level, the price continues to stay near the upper Bollinger band, and the price trend remains strong.
On the daily level, the price is above the moving average support, and the price trend is strong.
In summary, the support level is 115300, and the resistance level is 115600.
ETH: On the 4-hour level, the price continues to stay near the upper Bollinger band, and the price trend remains strong. The short-term market is overbought, so caution is needed for a price correction. The support level is 4160, and the resistance level is 4180.
LTC: The price continues to stay above the middle Bollinger band, and the price trend remains strong. The support level is 98, and the resistance level is 102.
BCH: The price continues to stay near the upper Bollinger band, and the price trend remains strong. The support level is 550, and the resistance level is 570.
That's all for now, good night!
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