ETH reached a new high, but to be honest, there's not much to be excited about, after all, it has always been second fiddle.
When BTC drops, ETH panics and immediately plummets.
If BTC falls below 100,000 next month, ETH is likely to break 4,000 directly. Be patient and wait for BTC to adjust, that will be the right time to buy ETH and BTC at the bottom.
When the next wave of market comes, BTC is expected to surge to 138,000 or even higher, and ETH can also reach 6,000+.
FHE, after a breakout with increased volume and a pullback for confirmation, this is a great opportunity to buy the dip.
The price has been fluctuating for several months, and the consolidation has been very thorough, equivalent to the main institutions quietly accumulating shares. In the future, FHE is likely to experience a significant surge, worth paying close attention to.
If I were to engage in the secondary market, I would choose ETH, SOL, and OKB, as they offer the best value for money.
To play in the primary market, one must select projects with low buzz and few promotions. If it's too lively, it’s either already in the later stages of a major uptrend or lacks momentum. I believe that the primary market should mainly focus on the SOL chain, while other chains can be explored casually. You see, even Kanye knows to launch a coin on SOL; now we just need an event to ignite the market, bringing existing funds back to SOL, and with the right monetary policy, the profit effect will follow.
SOL has now submitted an ETF application, with a market cap of 110 billion USD, which is still very low.
Bitcoin Future One Month Trend Simulation Chart (Point B high has been corrected), other factors remain unchanged.
Point B is around 117,500–120,000, and it may ultimately not breach 120,000. We will first observe the rebound situation next week. After the rebound ends, BTC will begin to decline and adjust.
From the end of August to the beginning of September, a significant drop is highly likely, mainly due to: the net inflow of institutional funds for ETFs is decreasing, with continuous net outflows; large whales are selling BTC and turning to ETH; and the daily trading volume is also decreasing.
The subsequent trend of BTC can be seen from three charts:
1) Weekly trend: The breakout of the ascending trendline is already a confirmed fact, and the weekly downtrend has officially begun;
2) ETF capital flow: Institutional net inflows have shrunk by more than half, with net outflows for five consecutive days;
3) Rebound strength: The rebound is very weak, and a fluctuating downtrend is likely to become the main theme, with a target price around 93,800.
Summary: Although there will be a short-term dip, this is a good opportunity to enter and buy at the bottom, and there is hope for a continued rise, with a target of reaching a new high of around 138,000.
ETH has risen three times from the low point of 1385 in April; the market is indeed fierce.
In contrast, most altcoins really can't move, like NEAR and Dogecoin, many of them have not even rebounded by 50% until now, and some, like Trump Coin, have even gone back to lying down.
Among mainstream coins, those like SOL, LINK, AAVE, and UNI are holding up relatively well; I've also invested in them. Although they may not necessarily outperform ETH, at least the gap is acceptable.
However, those that have not even reached a 100% rebound from their lows, many are only at 50%, which truly makes it hard to be motivated.
Even if there is really a chance to come back and multiply a few times in the future, looking back at this torturous process, is it worth it? Not all coins are worth our long wait.
Therefore, we should avoid those that take too long to recover and are too tormenting.
OKB has nearly quadrupled in just under 10 days! Can it be shorted?
On August 21, OKB surged directly to $190, setting a new all-time high, and is now at $191, having skyrocketed by 51.82% in 24 hours. Driven by the FOMO sentiment from both BNB and OKB hitting new highs, Gate's GT has also risen by 13.5% in the past 24 hours, now at $17.9. This is a bull market, almost quadrupling in less than 10 days, Dr. Xu is completely free! OKB is really powerful, much more enjoyable than trading contracts.
OKX just announced it will burn 65 million OKB, permanently locking the total supply at 21 million, aligning it with Bitcoin's total supply, cutting the circulation by 75%. Based on the pre-burn price of $45, the market cap is approximately $3.87 billion; if the market cap remains unchanged post-burn, the theoretical price of OKB should reach $184, while the actual price is now between $172 and $180.
The market has basically met expectations these past few days. Those who dared to take action during panic are now seeing decent returns:
Ethereum has risen from 4060 to 4370, and Bitcoin has rebounded from 112300 to 114700, indicating that the support below is still strong. In terms of hot topics, CFX surged to 0.2 driven by news, with a daily increase of over 20%, and OKB skyrocketed by 40%, reaching a peak of 195.
For sudden surges like this, don’t chase the high; securing profits is the way to go. If you really want to invest in platform coins, BNB has a better cost-performance ratio; it hasn't been ignited yet, and it will be too late to chase after news comes out.
In the short term, Ethereum is still the main player. 4400 is a resistance level, and it may retrace to 4200. If it can stabilize above 4400, then there will be a chance to reach new highs. Bitcoin is relatively weaker and may test 112000 again, but that would actually be a good opportunity. To put it simply, the current capital game mainly revolves around Ethereum, while other altcoins just follow the sentiment.
In terms of themes, MEME, CFX, and OKB, which are driven by news, may have a second wave, but the risks and pullbacks are significant. Those who enjoy volatility can play with small positions, such as CAKE, which still has some room, but don’t overthink it; achieving a new high would be good enough. The logic behind CFX remains, with an upgrade expectation in September, and you can position yourself for short, medium, and long-term gains, but be prepared for its volatile nature.
Overall, the market has few opportunities; the core of making money still revolves around Ethereum, while altcoins should be tried in small amounts to play sentiment and themes. Remember: gains and losses come from the same source. If you want to enjoy high volatility, you must withstand deep pullbacks. If you want stability, just focus on Bitcoin and Ethereum. It’s still the same saying: the investment journey is long, and making money within your understanding is the right path.
PYTH has formed a clean dome pattern on the 4-hour chart.
PYTH is currently struggling to reclaim the 50-hour moving average and the dense area of moving averages (approximately between $0.122-$0.123), which is currently a resistance level.
As long as PYTH stays below this area, the structure leans towards a downward trend.
A drop below the neckline at $0.115 would confirm the dome pattern, with the next level of support potentially at $0.108-$0.105. Any bounce before that can only be considered a low-level rebound, unless the bulls can break through $0.125 with volume.
Don't expect too much, and don't forget the risks...
I estimate this rebound can reach around 120,000, with the timing around August 30th. After the rebound ends, there may be a C wave decline, targeting around 105,000 and 93,500.
Take it step by step; both risks and opportunities are on this path.
Currently, my personal feeling is that there are local opportunities on the OK chain, but the fast in and out is very serious.
If it rises: OKB continues to have favorable news and surges, driving ecological prosperity, and can continue to play
If it falls: the temperature of meme cools down, and there is a lack of follow-up, with not much new blood coming in, many people chasing highs will be stuck for a long time.
Just now, while checking the overall market for various cryptocurrencies and their decline rates, I found that BONK has actually dropped nearly 25% since the 14th... Its performance in August was poor, with little rebound, weak upward movement, but a smooth decline... It seems that quite a few retail investors who bet on it becoming the top launch coin on SOL have been caught... I feel that those who chased it at the high levels in July will find it hard to break even in the short term... Coins like this will be kicked out of my fish pool...
The rebound of BTC afterwards is actually an escape opportunity for everyone! If you hold long-term, you don’t have to worry too much.
BTC's daily line has firmly broken through the upward trend line that has lasted for more than four months, and a significant drop and adjustment is basically a certainty. In the short term, if it rebounds to around 120,000, it would be an opportunity to escape, as it is highly likely to drop back to around 105,000, or even 93,500.
However, from a long-term perspective, after experiencing a significant drop and reshuffling, it is highly probable that BTC will reach a new high and surge to 138,000.
Market hotspots here need to focus on two directions:
First, Plume, which just launched on Binance, is a public chain for RWA (Real World Assets) and has a close relationship with USD1. It has inherent topical attributes and is worth paying attention to.
Second, the airdrop opportunities for stablecoin public chains. It is now visibly apparent that many VCs are pouring money into this sector, and the enthusiasm resembles the situation before the explosion of L2 and ZK concepts. Those looking to capitalize can prioritize this area, as sectors where institutions gather to place bets often hide numerous opportunities.
The 'character' of each bull market is actually different.
/ Previous bull markets: The push was particularly strong, and the main upward trend was very clear; you could almost make money with your eyes closed.
/ This bull market: Completely different, following a rhythm of 'advancing three and retreating two, advancing four and retreating three.' If you don't take profits in time, you will quickly give back all your gains along with the principal; and if you are not decisive in bottom-fishing, often the moment you enter the market is the peak.
Many people didn't make money in this bull market for this reason. The requirements for traders have become higher — position management has to be more detailed, and the grasp of entry points has to be more precise. The feeling can be summed up in one word: difficult.
However, we are still in the process of the bull market; the liquidity in the market is very abundant, and even the A-shares have reached new highs, while the crypto market is still far from the real peak.
Therefore, our strategy for this bull market is: constantly make waves, withdraw if it can't rise, buy in batches when it dips to the right level, and then take profits in batches. This approach has at least been validated so far.
During the period when Solana and BSC have cooled down, this is a time when the opportunity of OKX's X layer completely belongs to OKX, and this opportunity is no less than that of BSC in March this year. We look forward to further actions from OKX, such as launching AIpha?
As I said, if you don't want to play with the X layer's meme, just buy OKB. If the X layer ecosystem explodes, OKB will skyrocket.
Bitcoin has started to rebound. Have you jumped on the bandwagon to go long or buy the dip?
From the current situation, the strength of the bulls is not particularly strong. Additionally, with ETF institutions occasionally making small inflows and outflows of BTC, my judgment is that this rebound will likely reach around the 0.618 or 0.786 level of the small Fibonacci retracement on the chart, which is in the range of 120,000 to 122,000.