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First, from a structural perspective, there has been a long trading range above, and we have currently escaped from that upper trading range, which has formed a trapped position above. The overall trend is a strong reversal to weakness, with consolidation followed by a breakdown and a pullback that does not return.
The overall decline in Bitcoin is manageable, but the drop in altcoins is significant; Ethereum has dropped over 10% from its peak, SOL has dropped nearly 20% from its high, and other non-mainstream altcoins have fallen even more. In the decline, altcoins have no bottom, and the risk of buying the dip is uncontrollable.
In terms of market sentiment, the current greed index is 55, with the market moving from greed to neutral. Bulls have suffered significant losses in the recent decline, the profit-making effect has weakened, trading volume is sluggish, and volatility is decreasing. The market has entered a period of weak consolidation.
In terms of funds, from daily, to weekly, to monthly, there is a significant outflow of funds overall. The main forces pulling up the price ultimately result in profit-taking; those who run slower are just picking up the pieces and providing liquidity.
Looking ahead, a significant top has already formed, and whether there is an interest rate cut in September will not change the market's rhythm. Just like this wave of increase did not require any reason, any positive news in a downward trend is merely an opportunity to sell. The transition of market strength and weakness is very fast, and we are currently in a weak phase; the potential for further declines may exceed expectations, and risk considerations take precedence.
In terms of operational strategy, view from a neutral oscillation perspective, not fixating on bull or bear markets, reducing return expectations, with risk control as the top priority. Only re-enter the market at critical positions combined with definite signals. Pay attention to real-time feedback from the market; in the current situation, the priority for short positions is higher than that for long positions.
The market is experiencing continuous fluctuations at high levels, ongoing back-and-forth between bulls and bears, and is currently at a critical period for directional choice.
Structurally, it is being pressured from above by a major trend line + platform resistance at 108800-109000, while the short-term fluctuation bottom is at 107000-107500. The current price is already at the slanted end of the fluctuation zone, resembling a converging triangle. The next step will be an important directional choice.
In terms of volume, the short-term trading concentration area is around 108800, with the price right at the edge of the high-level top area. The morning breakout failed with insufficient volume, and bulls are hesitant to attack. If bears increase their volume and break below 108000, the upper platform resistance will become clear resistance.
In terms of momentum, MACD is consolidating near the zero axis, with nearly equal bullish and bearish momentum. The bullish green bars have not continued, and overall, it remains in a stalemate phase. Today will be a directional choice.
Trend expectations lean towards a bullish outlook. If there is a volume breakout above 109000, it will evolve into a continuation of the upward trend -> main rising wave continuation, with a potential breakout above 110500. For bearish expectations, there needs to be a volume breakout below 108000, and if it drops below 107500, further testing of the 105000-106000 support area will occur; a complete breakdown would indicate a trend reversal.
Operational Thinking: Subjectively, I still believe that market sentiment is insufficient. For bullish thinking, I suggest mainly observing in short-term operations, allowing the market to move. It's better to wait until it firmly stands above 110000 before going long. For bearish thinking, wait for directional choice above 108, and follow the trend to short if it breaks below 108000 with increased volume. There is also enough space for bears below.
$ETH $SOL $SUI Currently, it is just about watching for market reversals. I always feel that there is no strong bullish sentiment, and with no interest rate cuts in July, I still tend to lean towards shorting.
Only short weak coins, short ETH, SOL, SUI in the medium term, and manage positions like spot holdings to avoid liquidation.
$BTC Rational Analysis Coming down from the high of 110000, the fluctuations are huge. It has temporarily not broken through the major trend line and is at the upper edge of a descending channel. The current position leans towards waiting for a directional choice. A sudden upward breakout would likely attempt to breach 11000, while a downward move would continue to operate within the descending channel.
From the mainstream market perspective, gold is falling, US stocks are challenging new highs, and the cryptocurrency sector mainly acts as a risk asset linked to US stocks. Currently, the negative speculation has almost landed, and the focus going forward will mainly be on the interest rate cut expectations in July and the sustainability of economic preferences.
Resistance above: 108200 Support below: 106400 105000
The current position still has no plans to go long. Subjectively, this round of market movement is due to the liquidation of long positions from the downward pressure, combined with retail investors missing out, causing a rebound. Overall market sentiment is not high; the overall stance is to favor short positions unless it stabilizes above 108000 before considering the next move $ETH
The sharp drop in the morning followed by a recovery indicates that there is still demand from bulls below. Currently, it continues to rebound near the resistance zone. At the current position, pay attention to the pressure above. If the decline continues, it will form a type of second selling point.
Upper resistance 2470 2520 Lower support 2380 2310
The operational strategy remains mainly focused on short positions, while also paying attention to the position of Bitcoin. If Bitcoin breaks through and stabilizes at 108000 again, it may challenge a new high, requiring a shift away from the short position. On the contrary, if this wave of market rebounds peaks, the downward trend will continue $BTC
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$ETH From the perspective of the theory of entanglement, this position has produced a sell signal, a false breakout, so the first expectation for a pullback is to return to 2450.
If there is a rebound that does not break the previous high, and then it weakens again, it becomes a second sell signal, which is the second best entry point for short positions. The last opportunity to short would be if it breaks below 2400 and doesn't rebound back up.
Considering the current market sentiment, I personally remain bearish. The upside potential is limited, while the downside potential is unlimited. There are no plans to go long $BTC .
$ETH Morning rapid rise led to a large number of short positions being liquidated, probing down to around 2520, and further up is the densest area of medium-term consolidation, resistance will continue to materialize.
Similarly, Bitcoin is at a high level and should not be chased for gains. The subsequent focus is mainly on whether Bitcoin can stabilize at 108000. If it stabilizes, there are no conditions for short positions in the short term. If a false breakout at 108000 is confirmed later, then short positions can be continuously entered.
ETH Upper resistance 2550 2600 Lower support 2420 2360
In terms of operations, we still focus mainly on high shorts. The recent market is primarily due to short positions being trapped combined with retail investors missing out, leading to a short squeeze. The win rate for entering during spike scenarios is higher, and there are no long plans at high levels $BTC
Feel free to communicate anytime if you have questions
White 趋势交易
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Bearish
The last line of defense against shorts, can we reach the other side this time?
In the live stream, click on the avatar to enter. If you have any questions about positions, feel free to leave a message for online communication $BTC $ETH
The last line of defense against shorts, can we reach the other side this time?
In the live stream, click on the avatar to enter. If you have any questions about positions, feel free to leave a message for online communication $BTC $ETH
Planning to do a live stream, so we can chat about the market and discuss the orders in hand. True fans, leave a comment, let me know if you're ready, don't miss it!
When it comes to shorting, you can always trust Ethereum. The ETH exchange rate trend has already broken the downward trend.
Currently, it has also rebounded to the resistance zone. In a weak Ethereum scenario, if you are shorting, the probability of success with Ethereum will be greater.
Ethereum has not established an independent market logic at present; any round of increase has created a large number of trapped positions above. From the contract long-short ratio, it can be seen that the long-short ratio is always high and never low, because there is a portion of ancient long positions that are always trapped.
If the subsequent market trend is difficult to grasp, you can look for opportunities to short the exchange rate $ETH $BTC .
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The structure of Ethereum is clearer than Bitcoin's. The top has formed a large consolidation center, which broke out to a new high but then experienced a false breakout, followed by a true breakdown. Currently, it is in a rebound phase following Bitcoin.
The bearish structure above is very obvious, and there are more trapped positions going up. Considering the resistance level of Bitcoin, the best approach for Ethereum is to look for shorting opportunities. The ideal scenario is a spike upwards followed by a bearish close or a formation of a bearish structure on the 30-minute chart.
This V-shaped reversal is relatively difficult to handle and requires patience, but do not chase prices or sell at a loss. There are currently no plans to go long in this scenario.
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