[Market Commentary] NY crude oil collapses but uptrend remains; Bitcoin plunges
Contributed on Tuesday, June 8, 2021⇒ The shelf life of this article is until June 10 at 13:00.
■ The biggest concern in financial markets is inflation in Europe and America, with G7 tax reforms also in focus
■ The biggest concern in the cryptocurrency industry is tax and remittance regulations in China and the United States
In Europe and America, the developments are mixed. The DAX, which is at a high, fell by 0.10% from the previous day. The VIX index showed no significant change. The Russell 2000, an index of U.S. small to midsize businesses, rose by 1.43% from the previous day, marking some movement. The U.S. 10-year Treasury yield fell to 1.56% and gold recovered to the 1,900-dollar level.
NY crude oil has temporarily declined but remains in an upward trend. The upward trend in natural gas has become clearer.
The cryptocurrency market is moving in a negative direction. There are reports that MicroStrategy plans to raise $400 million by selling senior secured notes to purchase Bitcoin, and comments that China will elevate blockchain technology to a world-class level are circulating. There are also interpretations that the drop was triggered by former U.S. President Trump's statement that Bitcoin is a scam. El Salvador’s consideration of Bitcoin as legal tender will continue to be perplexing for authorities.
【Assets with trading opportunity】
DAX
NY crude oil
Bitcoin, Ethereum
【What you should know about market commentary】
・Market commentary focused on professional traders
・Overview of crypto asset positioning from a financial market perspective
The content provided centers on these two points, with the following considerations.
You must think about this yourself.
① Is the newstransientor not
② Will the price impactcontinueor not
Our content's uniqueness: providing an overview of financial markets and the crypto market
Uniqueness means how our content differs from other market analyses and market conditions.
※ Traders may trade anything, so you may focus on hot and lucrative assets, or ignore if there is no appeal in crypto assets.
Mindset as a trader
・“Explanations after events happen” are enough to know. Predictive accuracy does not directly translate to trading performance
・The movement of the market that is happening right now in front of you cannot be fully explained
・Even if you cannot determine the direction, you can still profit
・When analysts/strategists say “it will go up,” use pullbacks or retracements to your advantage
・Initial moves are solitary, but you should ride the big waves
A trader can win without knowing the market principles. This content differs in purpose from reports that only provide market commentary or market analysis without direct trading guidance, but on the surface it may resemble general market conditions.
