BTC
The 116000 pressure level given yesterday continues to play a role; it can only reverse the decline if it breaks through, and the price below it still indicates weakness. Currently down to around 114000, the shorts are in profit and can continue to hold and look down, proceeding as planned.
Bitcoin's daily K-line rebound is under pressure from BBI, and it hasn't even touched the middle line before moving down. The 4-hour level is under the pressure of the upper line, with MACD bullish volume continuously decreasing, and KDJ and RSI oscillating down after being overbought at high levels, presenting a bearish arrangement. The intraday strategy is mainly short.
Resistance levels above are 114,500, 116,000, and 116,800, where short positions can be set up. For those holding short positions, reduce positions or add positions on rebounds as appropriate, with targets below at 113,500, 112,000, and 111,000. The current price is around 114,000, shorts can continue to hold, and pay attention to the breakthrough situation at 116,000; the market is weak before the breakthrough.
ETH
Ethereum rebounded to 3,700 and then pulled back, currently oscillating around 3,667. The daily candlestick broke above the middle line and then fell back below it, with the upper line continuously declining; after a false break of the upper line on the 4-hour chart, a small triple top formed, MACD bullish volume is decreasing, and KDJ and RSI are turning down after being overbought at high levels. It is recommended to mainly short today.
Resistance levels above are 3,730 and 3,800, suitable for setting up short positions. For those holding shorts in the range of 3,700 or 3,590-3,730, continue to hold, with targets below at 3,600, 3,530, and 3,350. If it breaks below 3,600 and 3,530, it may accelerate downward.
Altcoin
The altcoins recommended yesterday, including LTC, PENGU, MAGIC, TON, CFX, publicly recommended shorting SYRUP for huge profits.
MAGIC
Yesterday's surge was expected, it started to break out and take off, and today it took off again, currently reaching an important support level. There is a significant room for further breakthroughs at this position! Currently in a pullback, I am closing longs and opening shorts, making a huge profit of 952%. I will close shorts and open longs at the ideal pullback point.
egl1
Old coin group first has gone live on Binance contracts, as the first of the new coin group, the Eagle should be soon as well. From a structural perspective, there is a high probability that there will be another significant bullish trend. After recommending Eagle above 40 million, I took out some principal over 100 million, planning to keep the rest to gamble on Binance contracts or spot.
SYRUP
Yesterday's order, I saw that SYRUP's short-term rebound did not break the first high, and there is a demand for a pullback at a small level. Currently near the price of 0.438, I shorted for a wave, achieving a 533% increase and made a few hundred U and left.
LTC
The short-term target of 120 has been achieved, currently oscillating in the previous high area, with a target of 145 after breaking through, and looking long-term at 230 and 370.
This position is not good for trading: chasing after the rise, it's easy to hit a false break; waiting for a pullback to buy, you don’t know if there will be an opportunity. In short, there aren’t many easy trades to do now. If you already have a position,
Just do two things: first, take some profits, and second, adjust the stop-loss line upwards along with the market trend. This way, if the market gives opportunities, you can earn more; if not, you can still protect your capital.
MYX
Has gone live on Binance contracts but not on spot, severely controlled, with extremely low selling pressure, utilizing contracts for short and long explosions. On August 6, about 14 million dollars (accounting for 1/3 of circulation) will be unlocked, with significant turnover above 0.4. After unlocking, pay attention to short opportunities.
SHELL
The daily line has retested successfully, low leverage can be used to buy spot, with a target increase of at least 30%, and a significant surge is expected.