Looking back at the closing of July and welcoming a new chapter in August!
Overview of market performance in July:
The high and low points are slightly lower: Within the current high and volatile range, the price shows a potential bull flag pattern, and the high and low points are slowly moving downward in the long term.
The cross star pattern appears: In July, the market had obvious differences between the long and short markets, and the game between the two sides was fierce. In the end, the bulls were slightly better.
Spot trading volume rebounded: Compared with the past three months, spot trading volume began to rebound in July, echoing the cross star K-line pattern, indicating a large number of changes in the market, which often indicates the approach of a new trend market.
Analyzed:
Since the price of BTC exceeded 70,000 for the first time, the monthly line has remained high and fluctuated, and the closing price has not seen a significant correction, indicating that market demand continues to support the price.
The high-level cross star is accompanied by an increase in trading volume and sufficient changes of hands, indicating that the subsequent price trend is expected to break through the current shock structure and usher in a strong trend market.
Trading strategy outlook:
Once the $62,300-$73,800 range is confirmed to break through, regardless of the direction, there is a high probability that there will be a strong trend for at least two months.
Please be prepared to seize potential market opportunities.
