🔍 7.08 Crypto Market Analysis 🔍

As expected, the market took a hit on Monday, with a normal retest in progress. The weekly retracement didn’t surprise anyone, and although the market’s bottom isn’t confirmed yet, we might need to observe for a couple more days to see if the trend lines stabilize. The current market situation isn’t great but not terrible either. However, this retest phase is particularly hard on altcoins, with many struggling to survive and causing long traders to face liquidation.

📉 Market Insights 📉

Bitcoin: Continues to flow out of the German government’s wallet, even over the weekend. They didn’t repurchase BTC yesterday; instead, their sell orders didn’t fully execute, leaving potential sell orders looming. The risk from this news persists.
Market Bottom: There's a possibility that the market might find its bottom this week, but it requires a second significant rally to confirm. If the previous low doesn’t hold, the market is likely to explore further down.
📊 Daily Chart Analysis 📊

Daily Trend: A significant downtrend, with resistance around 57,500 and support near 53,500.
4-Hour Chart: Continues the downtrend, with resistance around 55,700 and support near 54,200.
📅 Intraday Analysis 📅

The extreme dip reached 53,000, suggesting a bottom, but we might see another touch near 55,000 next week. It’s advisable to buy but not to rush.
Morning sessions continue to explore lower grounds, with a short-term rebound expected. Watch if the 55,700 resistance can be broken. Given the persistent control by Asian markets, even a rebound should be approached with caution. Prudent traders should wait and see.
🛡️ Hold Steady 🛡️