20240804
1. Important support levels:
- $60,000 (current psychological support)
- $57,000 (weekly and daily raw point control)
- $50,000 (major psychological support)
- $49,700 (daily support)
2. Important resistance levels:
- $62,200 (value zone low)
- $65,300-65,400 (daily resistance)
- $67,325 (weekly resistance)
- $70,000 (previous high)
3. Trading strategy:
- The author expects the price to fall further and does not recommend going long near $60,000
- Wait for the price to fall to strong support near $57,000 or $50,000 before considering going long
- If the price rebounds, there may be a short opportunity near $67,500
- Stay patient and wait for more market data and the opening of CME and New York stock markets
4. Other views:
- Pay attention to stock market trends, which have an important impact on cryptocurrencies
- Pay attention to the opening of CME futures and the filling of gaps
- Currently in a downward trend, forming lower lows and lower highs
- The author is currently taking a conservative strategy and is not in a hurry to enter the market
Expect a new CME gap to form:
Since CME only opens on Mondays and the cryptocurrency market trades around the clock, gaps often form when CME opens.
Gap trading strategy:
If the opening is in the middle of a gap, it may rise first to test the top of the gap, and then fall to fill the gap.
After filling the gap below, it may rise to fill the newly formed gap above. $BTC $ETH