What a sight to behold! Bitcoin and Ethereum actually have such significant market trends. What are the underlying reasons? How will the market move next?
Recently, international events have been frequent, with capital and national teams entering the scene to invest in cryptocurrency. From previous recognition of Bitcoin, there is now an increased focus on ETH and SOL, indicating that truly valuable public chains have their core value recognized by capital.
In the last article, it was mentioned that after profiting from Bitcoin, capital began to shift towards Ethereum and Solana, which is the reason for the current market dynamics of one rising while the other falls.
How should one trade next, especially when trading these two or three varieties simultaneously? Currently, Bitcoin continues to decline within a correction channel, but it is near a strong support level. Therefore, I personally recommend maintaining a wait-and-see approach, waiting for a reversal signal during the decline to find the best entry point. The specific reversal signal will be indicated by increased trading volume, and technical indicators can effectively judge. Around 110000, one might consider entering with a light position, with opportunities to build up positions in batches later on, while the stop loss remains below 100000.
Ethereum is currently in a high-level correction phase, and in the short term, the outlook is bearish. However, with the Fed's interest rate cut approaching in September, taking either long or short positions may not be very wise. I personally recommend not to trade. Solana is currently in a strong upward phase, and in the short term, the outlook is bullish, but be cautious about shorting, as it is the leader of American public chains, and capital will always manipulate it from behind. It is currently at a high level, and I do not see it as bearish, but remember not to chase highs and cut losses. I personally do not recommend trading.
The essence of trading is to engage in certain market trends; when there is no trend, it is best to remain inactive and observe changes. This is also part of trading. Pay attention to subsequent articles; I will release reversal signals as soon as they appear. $BTC $ETH $SOL
