The crypto market has risen, but don't celebrate too early

Brothers, the market gave a little color today, with a total market value increasing by 42 billion dollars, reaching 3.70 trillion, but the key resistance at 3.73 trillion hasn't been broken yet, everything is still in limbo.

1. Bitcoin continues to be sluggish

The price is still stuck below 115,000 dollars, the RSI has moved, but has not exploded.

If it cannot break through, the next support will be 111,187, or even 109,476, and it might need to wash out first.

2. Memecore skyrocketed +24%!

Currently surging to 0.547, although it hasn't temporarily crossed the key resistance of 0.583, the trend is still there.

As long as it can hold above 0.583, there is a chance to challenge the historical high of 1.01.

On the contrary, if it falls below 0.440, one must be careful of a pullback to 0.298, pay attention to position control.

3. Is Ceiniog Coin coming?

James Howells, who lost 8,000 BTC, wants to tokenize the 'lost coins' and create a new coin called INI, aiming to peg it to BTC 1:1.

This is about putting the 'dream' on the blockchain, planning to launch next year; let’s see if it’s a joke or an opportunity, time will tell.

4. Binance API developers are going to sue the NFT project team

Jaggedsoft is preparing to take Matt Furie and ChainSaw to court, claiming a loss of a million due to hacking, as the platform hasn’t provided an explanation, legal proceedings are underway.

The NFT project + security issues are not over yet, there may be explosive points to come.

Beware on August 7:

The US may announce tariffs on multiple countries, both the crypto market and traditional market fear such policy-related bad news, sentiment is currently cautious.

The market has indeed started to move, but we cannot be too optimistic until the core resistance is broken.

For BTC to rise, it must hold above 115K, Pi has moved, Memecore has exploded, there are short-term opportunities, but don’t get carried away, controlling positions + watching key levels is the right way.

Long Shao's advice: In a volatile market, don’t push hard; waiting for signals to act is the way to go.