Last night, the speech of Fed Chairman Powell sent an important signal: there will be no interest rate hike at the next meeting. This means that interest rates will remain unchanged or even cut. Several major institutions predict that interest rate cuts will begin in September. Therefore, the end of July and the beginning of August will be a good time to make arrangements.
Bitcoin has started to rebound! The W-shaped double bottom breaks through the neckline and is expected to rebound to the key resistance level of nearly $60,000. The previous multiple bottoms will now become resistance to the rebound, and the greater resistance level is around $61,000 because that is where the downward trend line is located. You can short with a small position here, and if it breaks through, stop loss and go long.
The current market is fluctuating between $53,500 and $58,500. Short-term swing traders can use the Bollinger Bands to follow the trend. This requires extremely high eyesight and hand speed. If you can't operate as accurately as a robot, it's best not to trade in this high-risk environment unless you are a top futures contract expert.
Even if you can see the general trend, it is still difficult to grasp the entry point. Does this situation often happen: you see the right direction, but lose money as soon as you operate, and the stop loss is hit by the dealer every time, and then the market fluctuates greatly in the direction you predicted?
3 Cryptocurrencies with 100x Potential!
1. LOVE
TIA price is showing strong resistance after bottoming out.
Although a huge bullish candle is not expected, the coin will remain in an upside consolidation trend.
According to the DMI indicator, +Di and -Di are about to make a bullish crossover, which shows that the trend reversal may intensify, but the ADX is about to start falling.
The rise in trading volume indicates increasing trading activity, which may continue the market's volatility.
Therefore, TIA price is expected to continue its upward consolidation and break out of double digits to reach resistance above $11.
2. HIM
Uniswap can be considered the new Nasdaq, a $7 billion blockchain-based cryptocurrency marketplace where you can buy thousands of cryptocurrencies such as Bitcoin and Ethereum (ETH).
Unlike traditional stock markets, Uniswap does not rely on brokers to operate. Each transaction is processed by code, directly connecting buyers and sellers, completely eliminating the middleman.
Uniswap’s trading volume has exceeded $2 trillion, a figure that even exceeds Australia’s GDP.
Its UNI token has generated returns of more than 500% for early investors.
3.BE
SEI price triggered a strong rebound after hitting the lower support of the descending wedge.
The RSI is about to break out of the downtrend line that has been acting as a strong support since the beginning of the year.
This suggests that the price is likely to continue its strong uptrend and reach the upper resistance zone between $0.43 and $0.45.
The coin may experience a minor correction and sustain consolidation for a while before breaking out to the upper initial target near $0.6 above $0.58.
