BTC and ETH are pulling back in the short term, but the overall direction remains upward.
#Bitcoin has retraced to the strong support near 112,000, with short-term signals of a pullback, but overall it remains healthy. As long as it holds this position, the overall direction is still upward; if it fails, it may return to the fluctuation range of May to July.
#Regarding Ethereum, if the critical level of 4,000 is lost, it may short-term drop to the desperate zone for retail investors around 3,780.
This position is also a second opportunity for institutions. Sideways consolidation or a sharp drop may indicate bottom signals. Don't rush to bottom-fish before the pin; usually, a rebound after a big pin can only chase 20%, with further exploration opportunities ahead.
With interest rate cuts by the end of the year and favorable policies, ETH and leading altcoins are worth holding; the rest are just air coins.
In the altcoin space, one can accumulate quality leaders at lower prices; the logic remains unchanged. Only quality top altcoins will follow the market's rise; currently, the rest are trash.
For recommended reading in the altcoin space: BTC and ETH are confused by the declines? The bull market tier list from July can still help you see the direction! What should you, holding the leading altcoins, do?
Resilient PEPE: Faith and market analysis.
Today, let's talk about my star pick—#PEPE.
PEPE itself has a good community consensus; there are steadfast buyers continuously adding positions during each pullback, indicating that it is not a worthless coin. However, it is not a mainstream coin and cannot enjoy the capital overflow effect from BTC and ETH, and new investment data is mediocre.
But at the previous high levels, a large number of new players poured in due to emotional drive. Recently, new player data has slightly improved during the pullback, but it is still far from the highs. Old players are holding firm, giving short-term investors room for patience.
From a technical perspective, the PEPE 1,000 support is the lower edge of a daily convergence triangle, but this wave of decline may not hold, as Bitcoin has not shown a substantial volume recovery, and it has also broken below the rising channel support line. If BTC pulls back to 112,000, PEPE will follow suit, and the support may be breached.
But there’s no need to worry about cutting losses:
1️⃣ PEPE is no longer closely following Bitcoin's decline; selling momentum is weakening, and buying support remains.
2️⃣ Historical low support remains strong—around 8,300 and 7,600, with a maximum decline space of 30%.
More importantly, since PEPE was listed on Binance, it has never fallen below the lower Bollinger Band on a weekly basis. Currently, the weekly lower band rises by about 60 points each week, reaching 740 next week and 800 the week after, leaving limited space.
Patiently wait for every opportunity to enter at lower levels; the faith in PEPE remains, the chips are stable, and when it drops, it's an opportunity to get on board.
Recommended reading about PEPE: The fourth wave in the crypto world is about to go crazy! ETH reaches new highs against the wind, SUI, RAY, PEPE, and SOL are set to take off? If you don't act in August, you'll fall behind!
What? Trump is coming to assist again! Is Bitcoin going to continue crashing or is it holding back a big move? ETH is inducing short positions, and PEPE and SUI are back? DeFi is about to soar!
10 billion U liquidated! BTC and ETH plummeting, is it inducement or peak? PEPE standard triangle area, OP, SSV new tokens launched, a reverse bull market is coming for you!
Why is it hard to profit in this bull market?
After the ETF approval, the stage has changed: institutions and quant funds are now the main characters, while small retail investors are always getting cut. Whatever you buy drops, whatever you sell rises, and you can still get cut by 20 points. New coins come out every day; the investment is real gold, but most of it is just air.
News? It's all a script; you are always the last one to take over.
In this bull market, the scythe is flying everywhere.
Let's end the article here! If you are still unclear about the direction in the crypto space, why not join me in positioning? I’m waiting for you; otherwise, in the next wave, you might find yourself on the opposite shore.
