Bitcoin is temporarily consolidating in a narrow range between 104000/115500 under the pressure of 116000. Ethereum rebounded and surged to 3700 but has retreated, oscillating around 3667. Last night, sweet dreams again mentioned short-term resistance: 115720~116730. Sweet dreams went short around 105668, and it was a good short. Currently holding a long position at 112100, waiting for the surge, short in the short term, long in the long term, patiently waiting for a change in trend!
BTC
The pressure level of 116000 given yesterday continues to exert its effect. Only by breaking through it can the decline be reversed. The price is currently near 114000, and the short position is floating in profit, which can continue to be held for further downside according to plan.
Bitcoin's daily K-line rebound is under pressure from BBI, has not yet touched the middle track and is heading down. Under pressure from the upper track on the 4-hour level, MACD bulls are continuously shrinking, KDJ and RSI are in a high overbought state and are oscillating downwards, presenting a bearish arrangement. The daily strategy is mainly high shorts.
Resistance above at 114500, 116000, and 116800. For those without short positions, plan to lay out short positions around here. For those with short positions, reduce positions as needed when it drops, and replenish when it rebounds. Target down at 113500, 112000, and 111000.
ETH
The daily K-line broke the middle track resistance and is now pulling back, currently the price has fallen back below the middle track, and the upper track continues to open downwards. On the 4-hour level, the price broke through the upper track resistance and then pulled back, forming a small triple top. Only a drop below 3600 and 3530 will accelerate the decline. MACD bulls are shrinking, KDJ and RSI are turning down after being overbought at high levels, and the daily strategy is mainly high shorts.
Resistance above to watch at 3730 and 3800. For those without short positions, participate in high shorts around here. For those already holding short positions at 3700, or 3590-3680-3730, continue to hold unchanged. Below, target at 3600, 3530, and 3350.
Altcoin
The altcoins recommended yesterday such as LTC, PENGU, MAGIC, TON, CFX, openly recommended shorting syrup for huge profits.
MAGIC: Yesterday it surged as expected, starting to break out and take off. Today it took off again, currently reaching an important support area. The space for further breakout from this position is very large! Currently in a pullback, sweet dreams are closing longs and going short, making a profit of 952%. The ideal point for pullback is when sweet dreams will close shorts and open longs.
egl1: The first old coin group has gone live on Binance futures, and the first new coin group eagle should be coming soon. From the structure, it is highly likely there will be a significant bullish trend. After recommending the eagle at over 40 million, I sold some principal over 100 million, and plan to keep the rest, betting on a Binance futures or spot.
LTC: The short-term target of 120 has been reached, LTC is still oscillating in the previous high range, and has not effectively broken through. The target after breaking through is 145. If it continues to break through, we’ll look at the big targets of 230 and 370 on the 3-day line for a long-term trend.
The structure at this position is extremely difficult to handle: chasing the rise makes it easy to buy at false breakouts, while pulling back to go long is uncertain whether it will provide an opportunity. In other words, there are no simple trading opportunities here. And you are already on board; at this point, you just need to do two things:
1. Take profit part of the position
2. Adjust stop-loss line with the trend. If the market gives you face, earn more; if it doesn’t, protect your capital.
MYX: MYX has gone on Binance futures but not on spot, controlling over 99%. When the spot is not pumped, no one cares; when it is pumped, it’s even less likely anyone will come in, with no selling pressure. Using futures to explode short and long. It’s estimated that many will die in this coin in the next few days. On August 6, a large unlock of about $14 million will be about 1/3 of the current circulating supply, with obvious turnover above 0.4. During the turnover period, the rate is relatively mild, pay attention to the short-selling opportunities after the unlock.
shell: The daily line has made a second retest, you can enter the market with low leverage or buy spot! The target is at least a 30% increase, ready to explode.
