Friday, July 5, 2024
[Market Interpretation: BTC]
1. Mt.Gox has entered the compensation phase, and the compensation time is expected to be about 2 months, with a compensation data of more than 140,000 (about 8 billion US dollars). According to the bankruptcy liquidation rules, the timetable for the compensation to be visible in the creditor's account may vary depending on the exchange: Kraken may take up to 90 days; Bitstamp may take 60 days; BitGo is 20 days; SBI VC Trade and Bitbank will complete the payment within 14 days. (Today at 16:27 local time, a Japanese creditor claimed that he had received compensation from Mt.Gox, and the amount of compensation was 13% of the position held that year.)
2. Technically, it fell below the long-term lifeline 200-day moving average. After the last break, it took 2 months of consolidation (August 17 to October 16, 2023).
【 Prediction 】
1. It is necessary to prepare for consolidation for about 2 months
2. Consolidation range: upper pressure range 56500~58400, lower support range 52000~51000
3. It has not yet fallen below 61.8% (52000) of the latest round of rise, and there is no signal that the bull market has ended
【 Suggestions 】
1. You can enter the market by fixed investment, but don’t buy at the bottom
2. If you are trapped in spot or long orders, you can open short hedge
