Bitcoin is drawing a clear line, with large ups and downs! Yesterday, Sweet Dream mentioned in the article that shorts could be taken in the 108000-109000 range. This morning, Sweet Dream again notified fans to short near 108700, yielding a massive 74% profit!
This morning, I notified to take a light short position on Ethereum at 2500, stop loss at 2510, target 2560, then 2450, 2400, and 2350. Those who are conservative with ETH can take partial profits, and I have shared this in both public and private messages.
BTC
BTC is oscillating in the range between the high of 108888 and the low of 107000. The closer we get to the 108900-109600 range, the more we need to be cautious of potential adjustments. The VWAP above Bitcoin was acquired this morning. Can it continue to rise, and how much can it go?
It depends on whether the institution wants to obtain the liquidity above. The 50-100x leverage is concentrated between 109000-110000, and the 10x-30x leverage is concentrated above 110,000. If they do not want to wipe out everything and leave nothing, then this position is likely the high point of this rebound, and some of it may be bait set by the institution.
Pay attention to 107450 below Bitcoin. The 4-hour EMA20 support held last night. If it continues to hold, it could sweep liquidity up to 110k. If it breaks the 4-hour support, a direct drop scenario will unfold. I believe this is not suitable for going long; it's akin to licking blood from a knife's edge, and we have already reached the upper boundary of the range.
ETH
Ethereum ETH had a surprise rally this morning, once again challenging 2520. This is the second rebound after breaking below 2500, mainly due to news surrounding the SEC's final approval deadline for Grayscale's digital large-cap ETF this week.
Ethereum has formed a structural reversal breakthrough and is currently building a confirmation process for a pullback. Focus on the overlapping areas of FVG + OB + previous high zones 2490–2480 for potential longs. Watch for the supply zone at 2520-2550 above, which has tested 2520 for two weeks without breaking through, indicating strong resistance.
Altcoins
Today, the U.S. debt ceiling has entered the debate phase. The U.S. is expected to release historic liquidity in August, referencing previous instances when TGA released a large amount, which led to the altcoin bull market in 2017 and the DeFi bull market in 2023. This time, TGA is coming again.
In recent decades, the U.S. debt ceiling issue has become increasingly frequent. In 2023, the U.S. debt ceiling was continuously postponed until the second half of the year when the U.S. initiated special actions, injecting $500 billion into the TGA. BTC surged from $25,000 to $40,000, and altcoins like SHIB created a myth of rising prices, with altcoins rallying dozens of times.
In mid-August this year, the U.S. will exhaust its cash reserves. Wall Street is waiting for a massive TGA release from Trump. If liquidity is not injected, U.S. debt and stocks will inevitably collapse together. It can be said that a thought can lift one to the heavens or plunge one into the abyss. We hope Trump can bring in a large influx of liquidity, turning the altcoin GG into a true altcoin season.
LEVER
This afternoon, I recommended BSW, ALPHA, and LEVER. Currently, LEVER has already started to take off, and brothers, it feels good again! I believe the other two will follow suit soon!!
MYX
MYX has a circulating market cap of $18.88 million, which is still not high. Liquidity is $3.7 million, which is quite standard. There is still room for an upward rise, with 20,000 holding addresses, which is not many and hasn't triggered a full market FOMO yet. It has been almost two months since the alpha went live. This wave won't discuss how sustainable it is; as long as the peak is high enough, subsequent dips will still perform well! At that time, we can look for opportunities to gamble on a second peak after this wave tops.
On-chain
Rich: Today, the $rich coin exploded, reaching a maximum market cap of $10 million. This $Rich is named after the old OG, whose current market cap is still very low. After a round of explosive growth last night, it has taken off again, and a $1 million market cap seems reasonable.
uptop: A lot has been washed out. Yesterday, there was the first attempt to rise, and now it has fallen back to the support level. Looking closely at the three lines in the screenshot, the two blue lines represent the accumulation area of the institution during the washing phase, averaging around $0.03. The red arrow line below represents the volume, comparing volume with candlesticks to understand the volume-price relationship. The low-level consolidation with shrinking volume indicates that the main force has a high level of control. The main uptrend could start at any time.
