The market has purely been a roller coaster these past few days.
BTC is oscillating at high levels, ETH is peaking and then falling back, and altcoins are a mess.
Today, I will clarify the current market rhythm, mainstream coin strategies, and some potential trading opportunities on-chain and on CEX. For those who prefer stability, you can first draw lines to observe the range, while more aggressive traders can start placing some bets.
Today's market rhythm
Bitcoin (#BTC): Currently, the 4-hour structure is still in a choppy adjustment; the daily line holds firm, there will still be rebounds. Short-term resistance is at 118.5k-119k, with support below at 116k. Once it breaks below, it may directly enter the washout range of 114k-116k. Wait until the end of the week, and perhaps this round of adjustment will come to a close.
In simpler terms: the direction is not yet complete, so don't misstep on the rhythm.
Ethereum (#ETH): This round peaked just shy of 4000, but was pushed back down, currently stuck in the 3720-3760 range. The intraday pressure looks at 3800; if it breaks below 3720, it may pull back to 3600 or even 3500. This position is not recommended for rash moves.
Altcoins: The rebound strength is clearly insufficient, and the explosive window has not yet arrived.
Altcoins are very fragile this wave; as soon as the market adjusts, it crashes immediately. Many coins rebounded lukewarmly in the past few days, both in volume and amplitude, showing no 'activation' signals.
A few typical examples:
$SUI fell back 12% yesterday
$OP wiped out the gains from the previous day (safely pocketed by keeping up with the rhythm)
$JUP directly dropped nearly 15%
The key point is: if there is no continuous inflow from off-market coins, don't expect the market to rise by itself.
However, the coin recommended by Miao Jie in the circle yesterday has performed well this wave, directly rising nearly 20% today. Indeed, the three most expensive words in the coin circle are: 'Wait a bit longer.'
Currently, it seems that the real take-off window for altcoins may have to wait until the market enters a FOMO state, which will trigger a 'full climax' rotation explosion.
Today's altcoin observation list:
#bnb : The king returns?
On July 28, BNB has broken its historical high, currently standing at 850 USD, with an increase of nearly 35% over the past five weeks.
First station: 886 (Fibonacci retracement)
Second station: 1037
Ultimate position: 1187, even 2000 is not a fantasy
Altcoin market cap has surpassed the previous high; if it replicates the last bull market's 200% increase, the overall altcoin market cap could surge to 5 trillion USD. BNB, as the leading platform coin, is an absolute barometer this wave; it is one of the core assets you want to hold in a bull market.
#DOGE : Another wave of anticipation?
Dogecoin has confirmed a breakout of the 0.23 double bottom structure, with technical signals fully charged, daily volume increasing + golden cross, targeting 0.418. If it stabilizes at 0.23, it is likely to repeat a familiar rhythm of 'slowly climbing, suddenly exploding.'
Personally, I continue to be bullish, but definitely don't chase highs; making trades or waiting for pullbacks to enter is the main theme.
As for the L2 layer mentioned most recently, $OP has also pulled quite a bit; it was pointed out in the circle yesterday.
As for the recent #PEPE, it was too heavy; the pile was not willing to pull the rock, stuck in a position too high or too low. Those who can't wait can consider switching it out.
On-chain hotspots: Patience + pre-burying is the main tone.
Recently, the on-chain #meme is actually not easy to operate; aside from #Vine having some interesting aspects, others are not performing well. Market funds are clearly cautious, and many 'explosive expectations' are just waiting.
However, here are a few key observations to focus on:
Summary:
In August, pay attention to the Hong Kong stablecoin concept. Stay alert, focus on the leaders and the direction of off-market funds; when the next wave of explosion arrives, don't be caught off guard.
I am Xiao Miao, and that's all for today's market discussion. I wish you to buy the dip without getting burned and to take profits without tears.#上市公司加密储备战略 #币安HODLer空投TREE
