Coinbase has led to a crash in the cryptocurrency market! Coinbase's Q2 report was below expectations, plummeting 8% after hours! The crypto market has been severely impacted! This morning, Bitcoin sharply dropped by 114,000, and Ethereum fell by 3,600! In the last 24 hours, a total of 158,240 people globally were liquidated, with a total liquidation amount of $633 million.
Yesterday, in the article, 【Pin washing! Bitcoin plummets and rebounds! Ethereum aims for 4000! No interest rate cuts in September! Are altcoins in danger? Is this round of washing over, or the beginning of the next deep drop?!】 I mentioned: 'BTC has closed with negative candles for three consecutive days; yesterday's daily K line formed a negative doji, and the short-term oscillation signal is obvious. The upper resistance focuses on the 118500–120500 range, and shorts can gradually attempt to enter in the pressure zone. The lower support looks at the 116500–114500 range; when low-level signals appear, consider lightly positioning long orders.' Yesterday's strategy had opportunities for both long and short positions for Bitcoin; the market is currently benefiting both ways. The short positions are intended to take profits, while the long positions continue to hold for larger gains.
Bitcoin
BTC is in a 4-hour wedge consolidation, which may choose a direction at any time; short-term focus is on monitoring the market. Today, pay attention to the resistance around 116550-117125 above; after a rebound, another pullback is expected, and the adjustment is nearing its end.
Many people see a major pullback. I do not think so. The pullback is very limited, and the rebound will not be weak.
123300-105010 = 18,290 ;
18290*0.382 = 6,986.78; 18290*0.5 = 9,145; 18290*0.618 = 11,303.22
123300-6986 = 116,314 (fell below in the early hours);
123300-9145 = 114,155 (The pullback is near today);
123300-11303 = 111,997 (Short-term bottom fishing)
Currently, the weekly EMA7 is at 113550, and the daily Bollinger lower band is also at 112888, providing some support. Short-term bottom fishing can focus on the 113550-112000 range; it is unlikely to break 112000 easily. If it does break, the bullish defense line will essentially be broken, and we may need to look for 108200-106000 next. However, if it really comes to that, it depends on whether institutions are willing to let you down.
Ethereum
ETH is expected to rebound; short-term attention should be paid to the support at the 3600 mark. If 3600 holds, you can try low long operations in the 3636–3606 range. Even if it breaks, it is likely to be a 'false break'; further positions can be gradually laid out near 3588/3572, averaging down at 3508, and stop-loss should be controlled below 3500.
Pay attention to the intraday rebound resistance area above: 3745–3770. It is recommended to maintain a low long position as the main strategy and avoid chasing shorts. Be wary of ETH possibly developing an independent market.
Altcoin
During the adjustment period for altcoins, quality assets can be gradually accumulated through low buying. This stage is suitable for investors holding capital to gradually layout positions, and it is recommended to prioritize mainstream assets with large market capitalizations and high liquidity, such as: BTC, ETH, XRP, DOGE, SUI, SOL, PEPE, PENGU, etc.
For retail investors, this could be a golden window for averaging down or building positions. Strategy recommendation: first filter for quality targets, enter the market in batches, and gradually lay out positions; it is expected that there will be a 1-2 week time window. Subsequently, the market is likely to enter a rally phase - feel free to take a screenshot as evidence and wait and see.
Today's focus
vine: You can directly enter long positions near the current price of 0.109; if you profit, be sure to set a break-even stop or take profits in batches. This coin has large fluctuations, so if the situation is unfavorable, retreat anytime. The defensive position reference is 0.1u; if the descending wedge breaks out, the target can be seen in the 0.14-0.17 range.
pengu: A small signal of stopping the decline has appeared, you can directly enter long positions near the current price of 0.034u, it is also a relatively strong coin with good cost-effectiveness, waiting for a rebound!
USELESS: Betting on a rebound, the short-term pullback has reached about 50%. BONK is the leading coin, and there are expectations that it has already fallen to the support level confirmed multiple times at the beginning of July in the 3 to 4 hour range. Positions will be reduced near 00M.
Bitcoin
BTC is in a 4-hour wedge consolidation, which may choose a direction at any time; short-term focus is on monitoring the market. Today, pay attention to the resistance around 116550-117125 above; after a rebound, another pullback is expected, and the adjustment is nearing its end.
Many people see a major pullback. I do not think so. The pullback is very limited, and the rebound will not be weak.
123300-105010 = 18,290 ;
18290*0.382 = 6,986.78; 18290*0.5 = 9,145; 18290*0.618 = 11,303.22
123300-6986 = 116,314 (fell below in the early hours);
123300-9145 = 114,155 (The pullback is near today);
123300-11303 = 111,997 (Short-term bottom fishing)
Currently, the weekly EMA7 is at 113550, and the daily Bollinger lower band is also at 112888, providing some support. Short-term bottom fishing can focus on the 113550-112000 range; it is unlikely to break 112000 easily. If it does break, the bullish defense line will essentially be broken, and we may need to look for 108200-106000 next. However, if it really comes to that, it depends on whether institutions are willing to let you down.
Ethereum
ETH is expected to rebound; short-term attention should be paid to the support at the 3600 mark. If 3600 holds, you can try low long operations in the 3636–3606 range. Even if it breaks, it is likely to be a 'false break'; further positions can be gradually laid out near 3588/3572, averaging down at 3508, and stop-loss should be controlled below 3500.
Pay attention to the intraday rebound resistance area above: 3745–3770. It is recommended to maintain a low long position as the main strategy and avoid chasing shorts. Be wary of ETH possibly developing an independent market.
Altcoin
During the adjustment period for altcoins, quality assets can be gradually accumulated through low buying. This stage is suitable for investors holding capital to gradually layout positions, and it is recommended to prioritize mainstream assets with large market capitalizations and high liquidity, such as: BTC, ETH, XRP, DOGE, SUI, SOL, PEPE, PENGU, etc.
For retail investors, this could be a golden window for averaging down or building positions. Strategy recommendation: first filter for quality targets, enter the market in batches, and gradually lay out positions; it is expected that there will be a 1-2 week time window. Subsequently, the market is likely to enter a rally phase - feel free to take a screenshot as evidence and wait and see.
Today's focus
vine: You can directly enter long positions near the current price of 0.109; if you profit, be sure to set a break-even stop or take profits in batches. This coin has large fluctuations, so if the situation is unfavorable, retreat anytime. The defensive position reference is 0.1u; if the descending wedge breaks out, the target can be seen in the 0.14-0.17 range.
pengu: A small signal of stopping the decline has appeared, you can directly enter long positions near the current price of 0.034u, it is also a relatively strong coin with good cost-effectiveness, waiting for a rebound!
USELESS: Betting on a rebound, the short-term pullback has reached about 50%. BONK is the leading coin, and there are expectations that it has already fallen to the support level confirmed multiple times at the beginning of July in the 3 to 4 hour range. Positions will be reduced near 00M.