As mentioned earlier, the pressure at high levels has begun to ease, and coupled with the recent reduction in expectations for interest rate cuts by the Federal Reserve, the risk-averse sentiment is more prone to getting out of control. Both gold and cryptocurrencies show serious signs of a crash. Recently, there has been a significant divergence between bulls and bears in the market, with Bitcoin fluctuating around 70,000. To summarize the experience, entering the market in batches is the only way to secure substantial gains.
The current situation lays a solid foundation for support below, significantly reducing the possibility of a large crash. The trend in the Middle East is marginally cooling, and the subsequent development trends in gold and the crypto market still carry a substantial risk-averse sentiment. Morgan Stanley has applied for spot Bitcoin, and a death cross has formed below on the chart. Significant institutional funds are accumulating coins, which can enhance strong trends. International oil prices have also declined, leading to a return of funds, and the risk-averse sentiment for Bitcoin is high. It is still essential to focus on entering the market in batches and implementing a long-term strategy.
Suggestion: Enter around 68,700, and consider adding at 66,500 below, while paying attention to breaking above 72,000 to sell half and then monitor 75,500.