01
Cryptocurrency News Interpretation
BlackRock has resubmitted documents to U.S. regulators through Nasdaq, adding new details to its proposal to establish an ETF that directly invests in Bitcoin. Nasdaq submitted new documents to the U.S. Securities and Exchange Commission (SEC) on Monday, indicating that Coinbase Globallnc. will provide market supervision to support the Bitcoin ETF issuance plan proposed by the world's largest asset management company. Previously, the Securities and Exchange Commission said that the preliminary documents submitted by the issuer were considered insufficient and lacked necessary information. Last week, some other companies also made more specific changes to their applications. Fidelity Investments, Invesco, VanEck, 21Shares and WisdomTree all modified their applications. BlackRock has submitted an application for spot ETFs again, and it is highly likely that it will not be passed. If it is rejected again, it will trigger a market decline again. However, Wall Street capital has already set its sights on the fat piece of Bitcoin. It is a foregone conclusion that it will pass in the future. It depends on which world node passes it, at least not now.
Important news overview:
1. EU lawmakers have agreed to move forward with the European Data Act;
2. Nasdaq resubmits BlackRock's spot Bitcoin ETF application;
3. Cryptocurrency ATM operator BitcoinDepot is listed on Nasdaq;
4. Kaiko: Cryptocurrency trading volume in the second quarter hit a new low since 2021;
5. ParaSpace: The team has sufficient reserve funds to deal with emergencies;
6. Credit Suisse collaborates with the Swiss Football Association to launch an Ethereum-based NFT series;
02
Cryptocurrency Trading Tips
Mental training
In the investment market, success rate is always a topic that cannot be ignored, especially in contract trading. For example, if you win 7 out of 10 bets, but lose 3 times more than you win 7 times, you have a 70% success rate. But what is the use of such a high success rate? Sometimes, even if 5 out of 10 trades are wrong, but you stop loss and take profit reasonably, the result is profitable. Which one do you want?
Therefore, the success rate is a false proposition. The charm of contract trading is to make a small investment for a big return. With a stop loss of four or five hundred points, you can get a profit of three or four hundred points. It is a joke to want to make money in the trading market with this success rate.
The more you pursue success rate, the more you lose profit rate, and the more you pursue profit rate, the lower your success rate. The profit of gambling in the market is not the number of times you are right, but how to increase the stakes when you are right and make the right run, and how to stop the error from spreading when you are wrong. The financial market is never about old people making money from newcomers, but about wise people making money from fools!
03
Cryptocurrency market analysis
31471 is the top, and the decline since then is regarded as an adjustment to the previous rise.
The 30-minute trend has been in a state of oscillation, so the analysis is no longer of much significance.
The central movement is around 31300~29950. The adjustment since the high point is consistent with the pause and consolidation in the rising process. (It is common to have at least six sections of oscillation).
The sign of adjustment end: a new low at the secondary level and a huge amount of pull-back. It cannot go too high without testing the support of 29950. If the support is not broken, the center of gravity will continue to move upward, and there will be a market only when the center is broken.
In terms of operation, continue to view it as a pullback and shock. If there is a large volume pullback, you may consider buying. If there is no large volume, do not participate!
