Today, there isn’t anything particularly special happening; the main themes in the market remain around tariffs and criticizing Powell. The short-term fluctuations becoming larger and frequent spikes indicate increasing divergence between bulls and bears and intense battles.
In the past 24 hours, a total of 131,236 people have been liquidated globally, with a total liquidation amount of $3.93 million. Long positions liquidated totaled $256 million, while short positions liquidated totaled $137 million.
BTC analysis
For Bitcoin, my consistent view is that if the market does not show obvious bullish or bearish sentiment, it is likely to be a fluctuating market.
Today’s focus on support levels: 116411, 112000, with no significant pressure levels at the moment.
Currently, BTC is stabilizing around 119200. You can choose not to act, but as long as there is no signal of a significant drop, there is insufficient basis for shorting. It was clearly stated yesterday to look for low long opportunities and not to short, and now it seems this judgment is quite valuable, right?
In the short term, BTC has already broken through the triangle pattern, but the pullback strength is slightly weak. It can be waited for a correction to enter, expected around 118000, which is also the recent top edge support position and won't be easily broken!
ETH analysis
Ethereum has risen a lot, and a pullback is normal. Retail investors are also offloading. If Ethereum is weak, altcoins will be weak too. After rising for a few days, it has been in vain, but small-scale bottoming has begun to rebound, albeit slightly weak, delaying altcoin season.
Today’s focus on support levels: 3605, 3486, 3339, with pressure levels tentatively at 3892.
ETH touched the 3605-3635 range three times yesterday; as long as a bottom position is retained, there can be profits today (those who haven’t entered can consider going long around the current price of 3730u). The support levels, resistance levels, and opportunities for buying have all been pointed out, yet when given the opportunity, why not seize it? What are you waiting for?
Opportunities should be tried even if they may lead to stop-loss; when there are no opportunities, one ends up making random moves. When given the opportunity, why hesitate? When will one mature?
Operational advice:
Today is likely to still be in fluctuation. There’s no rush for short positions, but if there’s a deep pullback, opportunities for longs can still be sought. If high positions don’t fluctuate repeatedly to torment, how can they attract funds to enter and accumulate liquidity? Without these, who would the major players make money from? The essence of zero-sum games determines that retail investors and major players are opposites; for the major players to profit, it is destined to be big fish eating small fish.
Today, BNB broke historical records, reaching a new high of $804.7.
Recently, there are two expectations: one is the BNB micro-strategy truly backed by Binance Labs or CZ personally, and the other is the stock issuance platform it leads and supports.
For the former, many institutions should have received investment invitations recently, but unfortunately, after asking around, no one knows which shell it is, and the confidentiality is well maintained. For the latter, it should be launching soon, based on the BNB chain.
The PUMP token craze has turned from a peak to a freeze in just 10 days. On July 22, the price of PUMP officially broke below the public sale price of $0.004, currently reported at $0.003693!
When the article was published, I saw: SEC approved the conversion of the Bitwise 10 Crypto Index Fund to an ETF.
This includes BTC, ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, DOT, so pay close attention.
What stage is the market currently in?
The market is bottoming out in despair, rising amid hesitation, and reaching peaks in madness. The current market is in the second stage—rising amid hesitation.
After multiple attempts to touch the top failed, short sellers began to observe, while those missing out expected a correction but have not entered the market for a long time. Those chasing long positions are hesitant to hold for the long term due to concerns about a correction. This round of market trends is expected to last at least until mid-August, with large-cap coins such as BTC, ETH, XRP, and SOL taking turns to rise.
Let’s talk about the holding situation of MEME:
Hot coins: DOGE, PEPE, which can be held long-term. After opening a position, wait to take profits when reaching the target price, and be sure to keep it separate from the swing trading account.
MEME has been behaving strangely; after DOGE broke through its resistance level, it did not continue to rise as expected. Compared to ETH and SOL, which quickly moved away from resistance after their breakouts, DOGE's fluctuations seem very weak, hovering just above the resistance level. WIF's performance is closer to breaking through the range, repeatedly washing out at the resistance level, showing strong momentum. Once it breaks, significant gains can be expected.
The movement of DOGE may be due to excessive retail holdings causing it to be 'too heavy', or it is waiting for some catalytic factor, such as favorable news or a consolidation following a minor-level breakout of the market (BTC) before pushing higher. Looking back at yesterday's article (The Big Reveal of DOGE Chips! 30 Billion Accumulated at $0.073! Major Player Cost Price Exposed, How Far Can the Bull Market Go?), I made it very clear (feel free to add me for free consultations). The breakthrough of WIF and PEPE is just a matter of time; chasing the breakout can effectively reduce holding risks.
