Some believe, and therefore see, some see, and therefore believe. When the market is in your favor, it creates you; when the market is against you, it teaches you. I used to think that the most hopeless state was heart-wrenching despair, but later I realized that emptiness in the eyes is a dead soul! Never be pessimists, close your eyes, sleep, and there will be a new morning again!

The Duanwu Festival is over, all worries turned out to be an illusion, the market is not as bad as thought, the struggle between bulls and bears never ceased, confidence is more important than USDT!
The market is currently focused mainly on three things:
1: When will the trade conflict finally end? My answer: during the 4-year term of Trump, the trade club will not disappear, but will only weaken temporarily. This is the most powerful and effective tool in the negotiations of the USA with trading partners, which will not be easily discarded.
2: Geopolitical risks are causing避险情绪. Since the US elections on November 5 last year, Trump stated that he could resolve the conflict between Ukraine and Russia within 24 hours of taking office. Six months have passed, and the parties have not reached an agreement; on the contrary, the situation is becoming increasingly tense.
3: In June, the maturity of U.S. bonds will amount to nearly 6.5 trillion dollars, while annual tax revenues in the U.S. total only 5 trillion dollars, expenses have reached 10 trillion dollars, the budget deficit continues to grow, and the market will increasingly be concerned about the risk of default, which strengthens the demand for safe-haven assets.
So, after the sharp rise of Bitcoin in April-May, a correction will begin in June. It's useless to worry every day, time will smooth everything out!
Okay, let's talk about today's Bitcoin quotes:
On Monday, yesterday, Bitcoin opened with an increase; I emphasized key support in the range of 103500-103000 last Saturday and Sunday. Especially the support at the level of 2460 below 2500 for Ether, holding this position yesterday meant that the overall market should not have been easily shorted, even if there was no opportunity to open a long position, shorting was not possible.
The fact is that after last night's pullback, many people did not dare to do more, they did not have the courage to do more, and were scared by the shock some time ago, and this morning to see a strong rise to break through 106000, in the morning straight more or wait for more mushrooms to fall, this is the time to pay attention, see the growth and then drive on, but it is easy to be a car looking up, It is easy to go short to kill more of the market, especially this morning rushed to 106500 the key upper and lower conversion pressure did not break through, now it has come out of the fall, if the afternoon and then the breakout of 104500, Today's bulls cannot be relied on too much! Beware of a big drop in the air after the holiday.
On the 4-hour chart, after a strong rise in the morning, there is now a decline with the formation of an upper shadow. A truly strong market will not have a deep correction and will not give most people the opportunity to enter the market, as it was last month when the price simply rose without providing an easy correction. This morning, the price dropped nearly 1500U from the high, which is no longer the behavior of a strong market.
Therefore, my current advice is to continue to hold the short position on Bitcoin at 106300, with 107000 as the border between long and short positions. During the period of European-American trade, if there is an increase, continue short positions, the lower short-term support is in the area of 104800-104500, and then there is a critical support at the level of 102000. Only after the price rises above 106500 again, it is worth considering buying on a pullback, this is just a backup strategy.