On Tuesday, BTC surged to 123k and then fell back to 119k for correction, plummeting nearly 6000 points. Yesterday's article suggested watching BTC's important support around 117300, above 114000, and near 110700. I opened a short at 121,602, making a huge profit of 554.35%, and as of the writing, profits have slightly retreated, but the short position continues to be held.
Today's hot opportunities:
1. Pump goes live: Team adds 4M to the pool, retail investors add over 20M in liquidity, all ICO participants profit, selling makes over 50%. After the ICO digestion, there might be good news; once it's fully released, consider shorting at high positions.
2. BSC's M, SOL's ALT: The operators are clearly in control, on-chain meme requires quick entry and exit, be cautious of targets that are mysteriously being continuously pumped.
3. ANI Little Golden Dog: Market cap around 10M, beginning to build narratives with AI digital humans; BONK is suitable for construction, Pump is more like PVP.
4. CEX: Bonk, Pengu have become meme leaders with new narratives, maintaining strong performance, while other memes perform mediocrely.
5. DeFi: Uni, Aave benefit from ETH breaking 3000 USD and institutional issuance of stablecoins, showing strong trends.
BTC
Monday's Bitcoin performance was surprising, continuously rising from 7 AM to 3 PM, peaking at 123,300 USD, an increase of nearly 5,000 USD. The upward momentum has temporarily slowed, providing a better shorting opportunity at high positions.
As I mentioned before, there is a gap in CME BTC at 116,000-114,000 USD, which is expected to be filled soon. Combined with the soaring funding rates, the current market has excessive long leverage, making it prone to adjustments.
Lock in profits before the CPI data release, re-enter after a pullback.
Set spot buy orders at 115,000-116,000 USD, overlapping FVG with retail stop losses concentrated. If there is a quick rebound, use small leverage to long; if it continues to fall, hold spot and add positions in the 112,000-114,000 USD support area. Funding rates are high, with retail long positions concentrated at 116,000 USD, becoming targets for the operators. Bitcoin is expected to significantly rise weeks after breaking the round number.
Suddenly, this ancient giant whale, holding BTC worth about 9 billion USD, has been continuously transferring out.
He might sell at 150,000 for Bitcoin, or sell completely at 120,000, with similar profits. Additionally, Dezheng F once commissioned B2C2 as a market maker, continuously selling for a month to maximize profits without disrupting the market. Today's whale selling might just want to exit the market.
Bitcoin liquidity has significantly increased compared to last year, the sale of 19,000 coins within 2 hours has limited impact, and it seems that off-market buyers have strong willingness. Those who can't hold back can bet on a decent rebound, short if the situation is unfavorable, and retreat at any time.
ETH
On the daily chart, Ethereum has not broken through key resistance levels, but this rise has shown strong performance, with almost no significant pullbacks. The chart below shows that retail traders who go long are somewhat more numerous.
Recently showing swing trading characteristics, quickly retreating after reaching highs to acquire liquidity. Since May, it has been in an upward channel, recently broke down and filled the gap, with prices declining as expected. Key support level is 2,800 USD (channel lower boundary and historical resistance), stabilizing after which it may challenge the 3,400 USD resistance.
Long-term optimism, target 4,100 USD to 5,000 USD, September monetary easing may become a catalyst, but in the short term we need to wait for the market to digest.
Altcoins
Bitcoin has slightly corrected today, altcoins seem to be entering a bear market. The decline of Bitcoin and ETH presents the best buying opportunity, and quality altcoins are similarly positioned. The market trend is clear, increasing holdings of quality coins is optimal.
The current market is clearly differentiated, strong assets include public chain track SUI, American concepts ALGO, HBAR, XLM, MEME track Pengu, Bonk, Pepe, Neiro, Pnut, DeFi track UNI, AAVE, ETHFI, etc. There are many opportunities, so seize them in time.
$FUN guillotine is approaching! Good news (such as the above-mentioned Korean exchange, buybacks) is a shorting opportunity, project parties and operators cashing out to zero, decisively short!
On-chain
Made money again! Earned dozens of times relying on $Ani! When playing with meme coins, you may not believe the dog traders, but you can always believe in the old horse. Last night, $PUMP opened hotly, only the old horse supported $Ani hard against $PUMP, with market cap breaking 10 million, brothers in the group enjoyed the profits! Old horse is indeed the king of meme coins on the SOL chain, $Ani has already surpassed 10 million, $rudi must keep up!
