Yesterday's Federal Reserve report generally confirmed bearish signals overall. The market still lacks reasons to rally, with capital flows primarily moving toward oil.
Gold experienced a significant pullback to around 4,800 today, and combined with the US stock decline, capital outflows are very evident, also influenced by Powell's remarks. Oil will face a sharp drop after the Strait of Hormuz reopens, so if you're trading oil, it's best not to chase highs.
Bitcoin has support at 695. I believe if that support doesn't hold, the next support levels are at 687 and 655.
It hovered around 712 last night without establishing a foothold, indicating weakness. During the livestream, some coin friends went long at that level. I advised against going long at the time—if you did, use a stop loss. If you're holding the position stubbornly, there's a high risk of liquidation.
Tonight, if US stocks continue to decline, the key is whether 687 support holds and whether we can bounce back. $BTC
Yesterday's Federal Reserve report generally confirmed bearish signals overall. The market still lacks reasons to rally, with capital flows primarily moving toward oil.
Gold experienced a significant pullback to around 4,800 today, and combined with the US stock decline, capital outflows are very evident, also influenced by Powell's remarks. Oil will face a sharp drop after the Strait of Hormuz reopens, so if you're trading oil, it's best not to chase highs.
Bitcoin has support at 695. I believe if that support doesn't hold, the next support levels are at 687 and 655.
It hovered around 712 last night without establishing a foothold, indicating weakness. During the livestream, some coin friends went long at that level. I advised against going long at the time—if you did, use a stop loss. If you're holding the position stubbornly, there's a high risk of liquidation.
Tonight, if US stocks continue to decline, the key is whether 687 support holds and whether we can bounce back.
$BTC