Last night, Powell aggressively crashed the market, followed by super positive earnings reports from major tech companies like Microsoft. Bitcoin returned above $118,000, and ETH returned above $3,800. After a brief pullback, the upward trend will continue in August. Yesterday, Sweet Dream mentioned in the article (Market Shift! Bitcoin's Heavenly Needle? Vitalik Supports Ethereum? Soaring 4000? Altcoins Declining! News Bombardment, How to Position Tonight?) that the current high-level consolidation may just be washing out leveraged long positions, and the overall trend remains upward. For low long positions, consider waiting around $17,000, $116,000, and $115,000. Sweet Dream opened a long position near $116,000 yesterday, making over 2000 points profit.
BTC
Yesterday's long positions had significant profits. Bitcoin had a low-volume drop yesterday and did not break below the July 25 low, indicating a decrease in selling pressure.
The daily level for Bitcoin shows that it has rebounded under the support of the rising trend line. The upper resistance level to watch is the previous high oscillation points at 11.94/11.98, and the support level to watch is whether it can stabilize above 11.82. If it stabilizes, it will turn from a resistance level to a support level.
Bitcoin has formed a bullish bat pattern on the hourly level, with point D rebounding precisely. After stabilizing at the neckline, it is expected to challenge $119,400 and even push towards $120,000.
Long position: Continue holding the long position near $116,000. For those without a long position, a pullback can focus on $117,200, with a target of $11.9/$11.95.
Short position: 195000/120000/120500 in batches.
Bitcoin has been consolidating for almost several weeks now, Sweet Dream has been mindlessly trading up and down, making money whenever a position is filled, and waiting for the next order if not filled.
ETH
The bottom-funding for ETH is really strong and scary, and the main force controls it very well. Every time it gets close to wanting to jump in, the main force will violently pull it back, basically not giving any opportunity! OI continues to rise, and Delta continues to decline, with shorts continuously building positions, but the price won't go down.
There are two possibilities:
1. The market maker has been buying in the spot market, causing the contract price not to drop, which may lead to a huge surge next. 2. The market maker has been buying in the spot market to maintain the price while simultaneously building short positions in the contracts, which could lead to a significant drop to clear out the accumulated long liquidity at this position.
Entering on the left side now is indeed very risky, but the position is excellent.
For right-side trading, wait for a drop below 3820 and then re-enter if it doesn't break.
There is a possibility of forming the same AMD model as last night, first spiking up to sweep some short liquidity, then crashing down, allowing the market maker to profit from both sides.
Currently, pay attention to the resistance at 3850-3888. Breakthrough is needed to expect new highs, with targets at 3980 - 4080. Support at 3760 and 3740 remains unbroken, the oscillation structure hasn't changed, so it's trading within the 3850--3740 range, buy high and sell low!
Altcoins
Altcoins violently cleared out long positions in the early morning, with almost all cryptocurrencies touching strong support levels on the 4-hour and even daily charts. Most large-cap altcoins will slowly recover their previous highs over the next half month, and there won't be as violent a market as yesterday.
huma
You can enter a long position near the current price of 0.0364. The small-scale price continues to rebound, forming a W bottom pattern, and there is a chance for an accelerated upward movement, go go go!
PLAY
Low initial liquidity makes it easy to pump. The investment institution background is good, with cooperation with OKX 3 and Tencent Cloud. There is hype, and it seems there are no community airdrops; no community airdrop information has been seen, leaning towards a long position as long as it doesn't open extremely high.
Under current circulation conditions, brainlessly going long under 0.03 is fine. According to BSC chain data, the circulation may be 17.7%, and 0.02 is also a relatively good long position. We can adjust after Alpha goes live.
SUI
Looking at the 4H chart, SUI is currently at a support level, forming a double bottom pattern. There is a huge gap above, making it a buying opportunity. The next major buying area is around 3.3-3.5, with a target price of approximately 4.1.
On-chain:
tism: Strong correlation with Fwog's dev, Fwog's highest is 600m, but the new tricker and image are quite perfunctory. Adding to the deep trading habits, long-term washing, safe position observation at 450-550k!
genes: gene, hot denim advertising sister, there is continuous news heat, phonetically similar to jeans, has controversial topics, can be continuously monitored. Second reference 460-570k!
Today's article ends here. There are many opportunities in the cryptocurrency circle now, and they need to be seized promptly! The door to the era of altcoins has opened, and opportunities are fleeting! Don't let hesitation hold back your wealth dreams, and don't let the traps of scam coins swallow your principal!