Bitcoin briefly breaks through 63,000, is it a false breakthrough or a new trend?
In the early morning of today, Bitcoin briefly rose above 63,000, leading the market to recover, which can be said to be a good start for July. This short-term rise does not rule out the possibility of a pull-up to lure more, but I think it is more like going out of the trend, that is, the recovery is on the way. First of all, the pull-up to lure more is generally more obvious in a single currency or a few currencies, and now the market is all green and rising across the board, indicating that the market is recovering. Secondly, in the past nearly 10 days, Bitcoin has been under the continuous impact of selling pressure, although it has temporarily lost, but it has quickly rebounded to above 60,000, which shows that the support at 60,000 is still very strong. Finally, now most of the big Vs and "analysts" of Binance Square believe that Bitcoin will fall below the 60,000 mark and head for 55,000. Under such public opinion incitement, many people must subconsciously think that the market will fall. In this case, pulling the market against the trend can not only burst the shorts, but also pull the market at a low cost (because many people think it will fall, so they don't get on the train at all). In summary, although I am optimistic about the recovery and rise in July, I do not rule out the possibility of a false breakthrough to lure more investors. After all, compensation to Mentougou creditors will begin one after another, and spot ETFs will begin to experience capital outflows again.
This week, the cryptocurrency world may have a big
I have always had a hunch that the cryptocurrency market may be "big" this week. On the one hand, there are signs of undercurrents, and the interweaving of various favorable and unfavorable factors will make most traders lose their direction. On the other hand, the United States will release the June non-farm payroll report this week. No matter what the result is, the market will fluctuate greatly, which means that many people are bound to be liquidated. It can be said that this week's market is likely to have ups and downs, and the market will usher in an earthquake. Whether it continues to smash the market or rapidly stretch and liquidate short positions, many people are bound to cry.
There is a high probability of an increase in July, but it is unlikely to be bullish
Now there are many signs that July will rise. I am also bullish, but I think this week's trend is very important. It is likely to set the tone for this month. Why do I say that? 1. The US non-farm payrolls report in June will directly determine market confidence and sentiment. It can be said that market confidence in mid-July-August depends on this report. 2. How big of an impact will the creditor compensation in Mentougou have on the market? This week will show the answer. If the impact is great, then the recovery will be aborted and the market will continue to fall. If the impact is not severe, the market will most likely rise in waves. 3. Whether the outflow of funds from Bitcoin spot ETFs last weekend was an accident or a new beginning will be seen tonight. If it is just an accident, then I believe Bitcoin is expected to hit 70,000 again. If it is a new beginning, then everyone should prepare for the aftermath. Because the market will not improve for a while, or even worse. In my opinion, this week's market will be open and close, and many contract players will overturn. The overall market will rise this month, but it cannot be bullish.
Making choices decisively is not necessarily a bad thing!!!
This morning's market has made a lot of spot money. I would also like to share my personal thoughts for your reference. First of all, I think there will be a token that will explode. From the current point of view, it is most likely PEOPLE, but I don't know if there will be a Cheng Yaojin to steal the limelight? Secondly, SOL will explode one after another, because some institutions have submitted SOL's spot ETF. Although the probability of passing is not high, it will greatly boost market confidence. Finally, spot players must learn to make choices, because many tokens are destined to be difficult to recover. For example, BLUR and STRK, which have been buried in the ground, WLD, which has been falling, and SUI, which has been unlocked in large quantities. My suggestion is that if you don't have to worry about your life and have rice in your hand, you can choose to hold it and wait for a rebound. After all, it is a bit difficult for these tokens to recover their costs, but it is unlikely to return to zero. You can also flash exchange them into other popular tokens according to the situation, and rely on the crazy rise of these tokens to recover your costs. For example, I flash exchanged STRK into NOT. There is another way to get rich and gain at the same time, but the risk is higher, which is to buy WLD, BLUR and STRK at the bottom in batches, because the three of them have fallen too much and there are signs that they can no longer fall. If it was a few years ago when things were going well, I would buy WLD and BLUR at the bottom, but now my luck is not good, and I have no money, so I will choose to wait and see. Of course, it's your money, so you decide for yourself.
If you don't know how to do it, you can consult May #PEOPLEUSDT #Notcion #wldusdt $SOL $STRK
