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🔍 7.08 Crypto Market Analysis 🔍

The expected Monday pressure has indeed brought a bad impact on the market, and the normal second test is also underway. Monday's retracement was not unexpected, but after the weekly line recovered, the bottom of the market still did not appear. To confirm whether the bottom has been formed, it may take more than two days to see whether it can go out of the normal line. At present, the market is neither good nor too bad, but the second test has a greater impact on the altcoins. Many altcoins cannot survive the second test, resulting in a large number of long-order players being liquidated.

📉 News 📉

Bitcoin continues to flow out of the German government wallet, even on weekends. They did not buy back Bitcoin yesterday; instead, their sell orders were not fully executed, so the unsold Bitcoin was returned to their accounts, which means that some sell orders may still appear. The risk of news still exists.

This week's bottoming out may end, but it is necessary to wait for the second official pull-up. This will take some time to wear out. If the previous low is not supported, then there is a high probability that it will continue to test the bottom.

📊 Daily level market 📊

The daily level is in a large-scale downward trend, with the upper pressure level near 57500 and the lower support level near 53500.

📉 4-hour level market 📉

The 4-hour level market continues to fall and bottom out, with the upper pressure level near 55700 and the lower support level near 54200.

📅 Intraday level analysis 📅

Intraday market: The weekly line has reached the bottom, and the extreme pin position has reached near 53000, which is basically over. But it is still possible to test near 55000 again next week. It is recommended to buy chips but don't rush to enter the market. The early trading continues to bottom out and rebound in a short time. Pay attention to whether the pressure near 55700 above can be broken. The control power of the Asian market is still desperate. Don't be too optimistic even if there is a rebound during the day. Steady players are advised to continue to wait and see.

🛡️ Tips for holders 🛡️

Spot holders please stay calm and stay composed during this difficult time in the history of cryptocurrency.#CryptoMarket#BitcoinAnalysis#AltcoinTrading#MarketAnalysis #TradingStrategy