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Currently, the biggest news in the market is the Mt. Gox incident, but many people still don't know what the Mt. Gox incident is, and they don't know how significant its impact is. The so-called Mt. Gox incident is one of the most famous security incidents in the history of Bitcoin. It was a Bitcoin exchange located in Tokyo, Japan, and was once the world's largest Bitcoin trading platform, handling about 70% of global Bitcoin transactions. In February 2014, it announced that about 850,000 Bitcoins were stolen due to system vulnerabilities and security issues, worth hundreds of millions of dollars. This incident led to its bankruptcy and had a significant impact on the Bitcoin market and the cryptocurrency industry. Yesterday, there was a sudden transfer of over 5 billion USD worth of BTC to a certain address. The last time the Mt. Gox address made an outward transfer (Outflow) was 5 years ago. Previous transfers by Mt. Gox (Inflow & Outflow) often scared the market, and today is no exception. "Mt. Gox" is now starting to unlock Bitcoin to repay creditors! Will this bring selling pressure to the market? At this moment, it's just a transfer out, and we will continue to observe the development of the situation. I believe this is just the whales and institutions once again taking advantage of the Mt. Gox incident to dump and accumulate.
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Yesterday, after probing below 67500 twice in the intraday session, the price quickly rebounded. Currently, the daily candlestick is still maintained within the range of 67000 to 69000. From the formation of high levels, a bearish candlestick pattern is observed. In the short term, the downward momentum on the daily chart has slowed down. At the same time, attention is focused on the suppression of the 69500 level, which is the midline of the daily Bollinger Bands. This position will be a key point for long and short positions. The structural form indicates a high probability of rebound, which will determine the strength of both long and short positions. Looking at the 4-hour chart, after the bottom formed a bullish candlestick, the price strengthened all the way up. The short-term upward momentum is strong, indicating a higher probability of bullish oscillation. However, from the current candlestick, the momentum of the short-term adjustment is not very strong. It is expected that the space for short-term adjustment is limited. Taking everything into consideration, the suggested operation for Bitcoin today is still mainly to go short at higher levels, with resistance platforms at 69200-69500-70500 and support at 67200-66500!
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Ether's price has always failed to break through the 4000 mark. The monthly k-line is about to close. After being suppressed in the late session, it quickly fell to around 3780. From the perspective of the daily KDJ, MACD, and BOLL indicators, the technical changes are not significant. It still remains in a stage of oscillation and strength. In particular, there has been a significant opening change in the upper BOLL, which also reserves space for short-term Ether to continue to rise. At the same time, Ether's price still firmly stands above the MA5 moving average, so it is undoubtedly mainly for long positions to buy on dips for Ether. ETH is relatively strong in the current trend and may be the key driver of the entire market. Also, pay attention to the Ether zone. There will definitely be a wave of speculation before the exchange listing in July or August. In the early session, it is rebounding and rising. Pay attention to the test of the breakthrough in the 3950-3980 range. If it does not break through, continue the box operation!
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