Long Like a spring compressed to its limit, at the touch of a button

We can only wait for the rebound of the long, the bottom of this non-rebound, once the long comes, will hit you by surprise

Long Like a spring compressed to its limit, at the touch of a button

The whole network of bearish sentiment came to the extreme, the bashing of the maniac is unprecedented, the maniac believes that this is a very good signal, now investors basically consistent expectations to see 29000 below, or even 20000, 15000 are there, dead long heads by this one plunge all shut up, but the maniac still wants to say that the market does not have the basis for a sustained plunge, first because the market Short consistency of expectations, this point at the top of the market when the maniac has spoken to you many times, but also shouted to everyone near 60,000 to reduce the logic of the position, when everyone’s divergence turned to the same time, often the market reversal signal; secondly, because the long leverage has been 519 liquidated round, the long fuel has been consumed, it is difficult to challenge the deep pit once smashed by the fuel; third is the market short has started to transmit to some irrelevant people, for example, yesterday Trump tweeted that Bitcoin is a scam, it has absolutely nothing to do with him, we can think that some interest groups paid for this tweet, after all, Wall Street is doing everything to collect chips. The maniac will continue to be bearish and will gradually buy the chips in his hands into core assets such as Bitcoin Ether, being a know-it-all and an emotional retrograde, and will be able to keep running this marathon in the long run.

There are several countries that are starting to join the cryptocurrency camp, the first is El Salvador, which has made the U.S. dollar and bitcoin legal tender, a very representative event where sovereign states recognize the monetary status of bitcoin; the second is Russia’s proposed law will allow citizens to inherit crypto assets, indicating that Russia has defined crypto assets as assets; the third is South Korea will complete regulation of cryptocurrencies. The fourth is that India is considering crypto regulation rather than a ban; the fifth is that Argentina’s state representative replaced its Twitter avatar with a laser eye; the sixth is that Panama submitted a bill with the intention of accepting bitcoin and cryptocurrencies; and the seventh is that Paraguay will launch a major bitcoin-related project this week. Why so many countries are scrambling to accept bitcoin overnight is precisely because they are optimistic about the future of bitcoin. 60,000 don’t dare to accept things that come to 30,000 naturally, because only then can their own nationals not pick up the slack for others.

ARK Fund continued to buy 18,000 shares of GBTC and 13,000 shares of Coinbase stock yesterday, a bit of a fix. MicroStrategy, on the other hand, continues to issue $400 million in notes to buy bitcoin and is considering issuing junk debt to buy more bitcoin, although the firm has floated a $200 million loss on its investments in bitcoin, but that hasn’t deterred it from continuing to increase leverage and buy.

California hockey team accepts cryptocurrency payments and the NHL San Jose Sharks begin accepting cryptocurrency payments. The trend of cryptocurrencies becoming common currency has not changed.

U.S. White House member Wim Wu holds millions of dollars worth of bitcoin, ForUsAll announces it will allow employees to invest some of their 401k retirement funds in cryptocurrencies, and the total number of bitcoin-anchored coins tops a record high of 250,000. White House officials are holding, social security funds are actively allocating bitcoin, and bitcoin lockups in cross-chain pools continue to grow.

Yesterday BTC flowed out of exchanges by 22,000 coins, a new high since November 2020, a sign that whales continue to plunge.

The total market cap of stablecoin has doubled 8 times in 1 year, while the coin price today is only 4 times what it was at the same time last year, indicating that the backup bottoming force is very sufficient.

Bitcoin futures open positions decreased by 25.8% in May and ethereum increased by 9.9%. Bitcoin is less because of the 519 leverage cleanup and the follow-on force failed to keep up, while ethereum increased because the leverage cleanup was seen by more investors and the potential will be greater.

Of course, there is some negative news such as.

a slowdown in demand for BTC from US institutions, with bitcoin outflows from exchanges now starting to slow down, often with intra-day inflows

Bitcoin funds had a net outflow of $141 million last week, and while the outflow was not significant, some investors did experience a panic exodus.

Serious inflation warnings from Deutsche Bank and Trump for the U.S., which will make the expected increase in interest rate hikes from the Fed meeting in mid-June detrimental to Bitcoin’s short-term movement.

Two other data items, Bitcoin on-chain trading volume fell to 2018 levels, indicating that investor sentiment is down to freezing, which is one of the signals of a bottom.

The market has been selling at a loss for almost two weeks now, and the process is almost complete, with the chip cleaning done and a bottom to emerge at first glance.

Hacker group Anonymous denied its release of the video, and they did spaced out Musk, but the video was made by a cottage organization that got excited yesterday for nothing.

The FBI confiscated the virtual currency in the hacker group Darkside’s wallet. Many people thought the FBI was directly confiscating the hacker’s wallet, but it didn’t. The FBI just did it by hijacking the cloud server, and the hardware wallet in our hands can’t be cracked as long as the private key isn’t leaked, so those who questioned the decentralization of bitcoin should give it a rest.

The panic index is 13, keep on wimping out. After today’s adjustment, I guess the panic index will be even lower tomorrow.

Sentiment Analysis

Bitcoin.

Today’s daily line is very ugly, but you can see that there has been a significant reduction in volume, from the daily level, there are only two trends, one is to take back directly at this position, this evening to close a lower shadow line, the other is to reduce the volume to create a new low of 29000, and then immediately pull back, in short, this position is not much down space, the long side is now like a spring pressed to the extreme, when the short hand slightly loose, the long side will be a strong counterattack, so even if you go to “buy a set” at this time, eventually will be the whole body back.

ETH.

The daily level was going well, but a broken guillotine destroyed the upward trend of the oscillation. From the viewpoint of various indicators, the opportunity for Ether still exists, especially from the NVT ratio, the probability of rising is greater than falling, while the inflow to the exchange reached a new low in October 2020, all the data means that a fall is a good buying opportunity.

DOT.

Today’s retreat is large, mainly due to the unlocking of Coin Mining, which is still unclear and not involved.

XRP.

The lawsuit was postponed by the SEC again, I do not know when to finish the fight, short-term continue to link mainly.

LINK.

Not as strong as Ether, do not participate in the first.

LTC.

Slightly stronger than BCH, the two belong to the fallen brothers.

BSV.

If it gives a new low again, it should be a good point to add positions.

ADA.

High oscillation unchanged, once the market rebounds, he should be relatively strong.

XMR.

Short-term linkage rally is expected.

DOGE.

Still not strong, but the volume is very small and linkage is dominant.

MATIC.

Not too much down, expected to rebound.

UNI.

This root went not too good, short-term weak shocks.

This market maniacs say what is useless, the fact that all people are losing money can not change, we can only wait for the long rebound, this does not bounce off the bottom, once the long head comes, will hit you by surprise, because all the air force are released, the hedge plate and set very high, the rebound once started, will be very quickly pulled away from the bottom.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/long-like-a-spring-compressed-to-its-limit-at-the-touch-of-a-button/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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