The bull market is still there, but the bull market is not a smooth ride!
The hosts of CoinDesk’s “The Breakdown” podcast highlighted many signs of rising prices in the U.S. economy, such as lumber, copper and truckers’ wages, and asked if this was a sign that inflation was building, even if it wasn’t reflected in the data. Then, on Wednesday, the Consumer Price Index for April was released: up 4.2% year-over-year, the fastest inflation in 13 years. This naturally unnerved global markets as investors reasoned that the Federal Reserve would need to unwind its accommodative monetary policy stance sooner than expected. Various sell-offs began to occur, including in Bitcoin, which saw an even steeper decline especially after Elon Musk tweeted Wednesday night that Tesla would no longer accept cryptocurrency as a payment method for purchasing cars. This bull market was started because of the big global economic release, and Hana believes that if the floodgates are closed early, it will not be conducive to a bull market in the future, and may even cause it to end.
The recent trend is fully in line with Hua’s judgment, the short term market is dominated by the short, for several days in a row prompted you to rebound to reduce positions, is to lead you to escape the top once again. Back to today’s plate, the trend is very weak, continued negative decline, the 5-day SMA, 10-day SMA and 30-day SMA has turned down, forming a short arrangement, bitcoin to determine the fall below the 120-day bull-bear dividing line, macd is located below the zero axis, and is a dead fork, technical indicators show that the short term or short-led, flower brother think there is a risk of continued pullback, the reduction are almost reduced, light position wait and see That can be. Support level 42000, pressure level 48500.
eth flower brother on Saturday prompted the more weak, can not be sure to stand on the 5 day average support, it is recommended that the rebound to reduce positions to hedge, today has been determined to fall below the 5 day average and 10 day average support, the short term risk of continued pullback, or even fill the fall, the operation of the flower brother recommended to continue to rebound to reduce positions. Support level 3100, pressure level: 3700.
bch5-day SMA and 10-day SMA dead fork down, 30-day SMA has the risk of breaking down, macd high dead fork, Hua believes there is a risk of pullback, operationally it is recommended to wait and see. Support level 980, pressure level 1200.
bsv can only low absorption, can not chase up, bsv has fallen compared to the high point of more than 30%, the risk of small capital to low layout is relatively small, the operation of the flower brother suggested small capital to low batch to establish a bottom position. Support level 250, pressure level 315.
ltc rebound by the 5-day SMA and 10-day SMA pressure, will continue to adjust, it is recommended to continue in the 200-300 large range in batches of bottoming. Support at 260, pressure at 300.
link rally can not re-stop 5 day SMA support, and fell below the 30 day SMA support, macd high dead fork, short term risk of continued pullback, operationally Hua suggested that the short term continue to rally to reduce positions, the long term continue to buy in batches at low. Support level 35.0, pressure level: 42.0.
sushi fell below the 5-day SMA and 10-day SMA support, but the recent favorable reinforcement, the operation is recommended to hold the bo rebound. Support level 14.0, pressure level: 17.5.
ada is considered a relatively strong mainstream coin, the retracement of the smallest, Hana suggested to protect profits, reduce positions at high, to avoid bitcoin with collapse. Support level 1.9, pressure level: 2.4.
xrp can not re-stop the 5 day SMA support, Hua believes that the short term risk of continued retracement, the operation is recommended to wait and see. Support level 1.25, pressure level 1.5.
zec5-day SMA and 10-day SMA down, macd dead fork, indicators support continue to see a pullback, short term Hua does not recommend buying, wait and see first. Support level 220, pressure level 270.
xtz fell below the 4 SMA support, the short force is strong, short term risk of continued retracement, operationally recommended wait and see. Support level 4.8, pressure level: 5.8.
dot probability is that the card slot auction in June, before the favorable landing, Hua believes that all have the potential to rise at any time, the operation suggests a small capital to low layout, wrestling with a favorable landing before the market. Support 35.0, pressure level: 42.0.
uni did not stand on the 5-day SMA support, but fell below the 60-day SMA support, the short term began to be controlled by the short, there is a risk of continued retracement, the operation recommended rebound to reduce positions to avoid risk. Support level: 30.0, pressure level: 37.0.
Key Note: The trend of the flower analysis are valid for 24 hours, suitable for short term traders, if you can not insist on reading the article every day, it is easy to miss the operational guidance and cause losses. Buddhist coin holders can ignore the short-term trend and take a year, making money is probable.
2、Daily Coin News
Daily hot news interpretation
Musk’s recent series of operations on cryptocurrencies can be described as dazzling, and his influence on the cryptocurrency market is so great that it has actually established his position as the global “godfather”. However, Musk’s recent announcement that Tesla would no longer accept bitcoin payments angered Dogcoin co-founder Jackson Palmer, who tweeted on May 13 that Musk had always been a selfish liar and would remain so in the future. He quickly deleted the tweet, though. The virtual currency market has become somewhat of a puppet on Musk’s string. When he approves, the market skyrockets; when he leaves, it plummets.
Of course, Musk is not the first person to capture revenue through his social influence. But none of these people have a publicly traded company with a market capitalization of more than $800 billion behind them. Throughout Musk’s business decisions, he is a mix of Machiavellian and game theory guru, adept at finding maximum return value by making small gains in the chaos he actively creates. While he may look like your terrier-chart-loving nerd friend and geek colleague, he is also an entrepreneurial tyrant who has experienced brutal challenges. The decentralized features advocated by virtual currencies seem worthless to Musk here. And are the people who follow Musk’s buy-in and buy-out really all his believers? Many are just hoping to achieve short-term arbitrage on the so-called “consensus” casually thrown out by Musk’s tweets.
One might argue that Tesla is not trying to take advantage of the speculative nature of Bitcoin by promising not to sell it. But with Musk’s influence on virtual currencies and Bitcoin’s benchmark significance to the virtual currency market as a whole, Tesla will always be able to enjoy the premium of the bubble. The vast majority of this bubble is not coming from Wall Street financial institutions that people don’t like, but probably countless millennials who have only $5,000 in savings and can only swipe Twitter and Tik Tok to pass the time each day. Musk may be able to provide them with a short-lived binge, but all binges of fury will end in fury. Someone broke the news that above the dogcoin rich list, the first place with 36 billion dogcoins is Yilong Ma, and the fourth place with 2.7 billion dogcoins is his mother. The fourth place address had only 1 transaction and it happened on May 10, when there was also indeed news that Musk gave his mom dogcoin as a Mother’s Day gift. Others asked Ma Yilong how to see these addresses, he said it might be the exchange, and then was hit in the face by CZ… The world is bustling with profit, the world is bustling with profit, Ma Yilong is also a same.
Follow the trend, be a trend follower
This wave of the market, flower is from bitcoin from 54000 on the beginning of the prompt risk, the article is also several times prompted everyone profit timely withdrawal, as long as your money is still usdt, or a string of numbers, can not guarantee that one day will lose out. When you think back to these years of speculation, you do not only know the top-up, never withdraw cash? I hope everyone can become a mature trader and realize the ultimate mystery of the coin world – cashing out in batches!
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-big-market-pins-and-needles-your-money-is-waisted-again/
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