Crypto News
May 6th Hot Topics:
1. Jiaxin Wealth Management: It is expected that the Federal Reserve will cut interest rates two to three times in the second half of this year.
2. It is estimated that there are about 28 days left until the reduction of ETC production.
3. Research found that over 90% of stablecoin trades are not from real users.
4. BTC has officially processed over 1 billion transactions.
5. SlowMist: The total loss from security incidents last week (April 28th to May 4th, 2024) exceeded $71.4 million.
Trading Insights
During the trading process, one should learn self-restraint and fund management. Try to relax during operations. If the position is unfavorable, exit; if it is advantageous, hold. The focus should be on how to reduce losses rather than how to make more money. When your trading situation is not good, reduce the amount or stop trading. When trading is going well, increase the volume of trades. Never enter into trading under circumstances that you cannot control.
When trading, one should be cautious, as success in this field comes and goes quickly. Setbacks always occur when you are complacent. The speed of destruction is much greater than the time it took to build something. Some things take ten years to build, but can be destroyed in a day. Therefore, strict self-discipline should be maintained at all times.
The vast majority of people have a "heavy position" mentality when trading, liking to enter and exit with heavy positions. Therefore, you must change yourself in this regard. Throughout history, those who operated with heavy positions all ended up in a bad state. You must control each of your losses to within 2%.
Some people will change their trading system when losing money, while others do not believe in the trading system at all, doubting the instructions given by the trading system, and often entering and exiting the market based on their own preferences. However, the masters always follow the trading system. Trading is not for seeking excitement, but for seeking victory.
True trading masters are not measured by the amount of instant profits, but by long-term gains and stability. Stability is the most important!
Search for the public account: "Big White Coin Forum"
BTC
Analysis
Bitcoin yesterday morning hit a low of 62890 and rebounded to the 64635 resistance line during the day. Congratulations to friends who followed the low long strategy. Currently, the price is running around 63800. The price broke through the previous high on the four-hour chart but failed to stay above it and fell back. The MACD formed a bearish divergence structure, and the trading volume gradually decreased with signs of a high-level death cross. Short-term bulls are stagnant, and there is still room for a pullback in the market. The daily chart has seen four consecutive days of gains, and it is approaching the upper resistance. Only by staying above 64500 can the upward trend continue; otherwise, it will first fall back. The indicator signals are biased towards the bulls, and the expected pullback is not expected to be too large. The strategy is still to maintain a low long position, with upper resistance at 64500-65800 and lower support at 63300-62500.
ETH
Analysis
Ethereum yesterday hit a low of 3072 and rebounded, with the candlesticks rising to a high of 3170 but being resisted. Congratulations to friends who followed the low long strategy. Currently, the price is running around 3132. The four-hour candlesticks closed with upper shadows and consecutive declines, and the MACD showed signs of a bearish crossover with decreasing bullish volume, indicating a temporary stagnation of the bulls and a need for a pullback. Pay attention to the 3100 support level below. If it can be held, there is still a possibility of breaking the previous high. Looking at the daily chart, the candlesticks have been rising in small steps, indicating a strong bullish trend. In the short term, there may be an opportunity for a high rally around 3130. The strategy suggests focusing on long positions on dips, with upper resistance at 3170-3230 and lower support at 3100-3050.
Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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