June 15, 2023

Interpretation of Bitcoin daily trend
No interest rate hike overnight was in line with expectations, but the dot plot and Powell’s speech were hawkish, indicating that there may be two more interest rate hikes in 23 years. The market then broke down quickly. Bitcoin failed to hold 25200, and Ethereum directly broke 1680
The recent analysis clearly indicates that the bears are in a dominant position. It is still early to buy the bottom. Pay attention to the two ranges 24800-25000 and 23800-22600. At present, if it falls below 25300 and breaks the wedge adjustment, the market is weak and the market may continue to move upward Dip to the bottom or sweep away the long chips above
In the future, the spot investment plan will pay attention to the range of 23800-22600. If you are pessimistic, you will go directly to 20K-18K before there will be a short-term gold pit (cleaning the long chips above 25200)
To sum up, the market is still in a bearish trend, and there is still room and probability for a decline. Don’t rush to go long. You can’t use the logic of a bull market to participate in the fall in the monkey market, and continue to wait for opportunities to appear