The reason why trading feels difficult for many people is that the process of accumulation and practice is exceptionally tedious.
Hello everyone, I am trader Gege. Continuing from the last article, Bitcoin has entered a high-level consolidation. The short positions given previously at 108000 and 2480 for Ethereum have yielded good results, and the entry points were not too far off. Currently, the macro aspects of the market are focused on interest rate cuts and the situation with the Federal Reserve. There is a divergence among Federal Reserve officials regarding whether to cut rates in July, unlike the previous unanimous views, so there is a probability of an early decision, with the most conservative expectation being in September. We just need to be aware of these developments without overemphasizing them, as significant news is likely to be released ahead of or delayed in relation to the market.
The stability that a stable trader possesses is definitely a stable mindset, rather than a stable net worth. Net worth can fluctuate, but the mindset must remain steady. Not everyone who enters this market has a naturally good mindset; this can be cultivated over time, and of course, it requires real investment, not just theoretical discussions.
Back to the main topic, let's talk about the current market situation. Today is Friday, and there isn't much to say. The overall perspective remains unchanged from before. Bitcoin's daily chart has started to show a bearish candle, which is expected, as this upward movement without a pullback needs correction. The short-term support to watch is around the middle band MA7, followed by MA60 and the lower band. The 4-hour main chart indicators suggest that the weekend will likely see a range-bound consolidation. The resistance above continues to align with previous views, while below we focus on the BOLL lower band and MA60. Ethereum's daily chart has not completely broken below MA7 and MA60, and similarly, it has not broken above EMA200 and the BOLL middle band, so we will continue to focus on this range in the short term.
Today's article does not provide specific short-term trading strategies; feel free to consult. Have a great weekend!
The suggestions are for reference only. Ensure proper risk control when entering trades, and manage your profit and stop-loss spaces accordingly. Specific strategies should be consulted in real-time.
Alright, friends, we will say goodbye until next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time advice will be sent internally. Today's brief update ends here. For more real-time advice on Bitcoin and Ethereum, find Gege.
Written by / I am trader Gege, a friend willing to accompany you in your resurgence.
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