After the cryptocurrency market collectively rose on July 18, it faced a collective pullback on the 19th. Market data shows that Bitcoin once dropped from over $120,000 to about $116,788, and as of the time of writing, it reported $118,113, with a 24-hour decline of 2%.
Except for Bitcoin, most cryptocurrencies are synchronously pulling back.
Among the top ten cryptocurrencies led by Ethereum, Ethereum fell 1.74%, SUI dropped 9.54%, XRP fell over 4.9%, and BNB decreased 1.62%, overall declines are relatively limited; however, Dogecoin (DOGE) rose against the trend, increasing by 4.28% in the past 24 hours. On the gaining list, Coin C rose 113.27%, and EPIC rose 85.58%.
Data shows that in the past 24 hours, a total of 184,899 people in the cryptocurrency market were liquidated, with a total amount reaching $814 million.
On the news side
On July 18 local time, Trump signed (Guidance and Establishment of the National Innovation Act for U.S. Stablecoins) (referred to as the (Genius Act)), establishing a regulatory framework for U.S. stablecoins, setting up a federal 'Strategic Bitcoin Reserve' and 'National Digital Asset Reserve', banning central bank digital currencies, and clarifying that stablecoins must have 1:1 reserve asset support, while foreign compliant stablecoins can be used in the U.S.
This bill was previously passed by the House of Representatives; as a result, the cryptocurrency market collectively rose on July 18, with Bitcoin breaking through $120,000, and Ethereum surpassing $3600, approaching its yearly high.
CZ's bullish indicators have appeared?
In addition, Binance founder Zhao Changpeng (CZ) mentioned on July 18 that 'cryptocurrencies are volatile', which was interpreted by the community as a signal that the market is about to decline.
However, crypto big shot AB Kuai.Dong (FORAB) pointed out
Taking ETH as an example, historically, CZ mentioned volatility 6 times, and in 5 of those instances, an increase followed; in response, CZ later stated it was just a casual post, reminding the community not to over-interpret.
Today's market analysis:
BTC
Focus on support levels of $112,000 and $109,500, currently no resistance level set. Last night's low fell to $116,788, just 38 dollars away from the first low buy level of $116,750, with accurate rhythm judgment, those monitoring the market may seize opportunities, while those not monitoring may easily miss out.
ETH
Focus on support levels of $3340 and $3100, currently no resistance level set. Performance is slightly stronger than BTC, with a low of $3477 last night, close to the most aggressive low buy level of $3485; current price is $3550, properly executed operations can cover weekend expenses, while those who did not operate need to wait for further pullback opportunities.
Operation suggestion: those who were in cash yesterday could operate STRK/HIFI, control the position, strictly execute, and remain calm!
Contract ultra-short-term trading, reduce profit expectations over the weekend, focus on BTC/ETH/SOL. Key is the appearance of a bottom divergence at the low point in the early morning, look for short opportunities at rebound highs. Both long and short positions can be operated before 14:30 on Sunday!
BTC has formed the third wave of the 12345 strategy, with a high probability of the fifth wave appearing in the afternoon or evening; now you know how to operate, right?
