7.22 Market Trend Analysis:
Is BTC and ETH starting to retrace?
You can check out the pinned video from last night; this week, the market is very likely to enter a critical period. #BTC has tested the 116 support level twice, and after a brief rebound, pressure remains around 118. This week, there’s a chance to dip into the 113-114 range; #ETH is following the decline, with 3800 being a temporary peak; if it breaks down, the target looks towards 3500-3600.
Don’t just focus on the FOMO altcoin season; the current rhythm is very similar to March last year. When prices rise, everyone thinks it can soar, but not selling is equivalent to earning nothing. Once the retracement comes, those who haven’t escaped will still be trapped; don’t ride the roller coaster again.
🔥 Market Highlights:
1️⃣ The NFT sector makes a strong comeback! Punks were swept by whales, Moonbirds rose by 200% in a day, $BLUR , and $DOOD are also taking off; NFTs are alive again!
2️⃣ Pump institutions suspected of selling pressure: Two major on-chain addresses cashed out 39.65 million USD in a week, $PUMP is on the verge of breaking, don’t be the bag holder.
3️⃣ $MSTR is back at it, announcing the purchase of 6,220 BTC, with a total amount exceeding 740 million USD, with an average price as high as 118,900 USD; the madness continues!
4️⃣ $ENA typical 'pump and dump': after hitting 0.59, it fell back to 0.51, behind this is StablecoinX spending 360 million to acquire tokens, a sense of 'insiders selling to their own.'
