Yesterday, Master's pre-buried short orders in the 59500-59900 range, the market rose to around 59449 after 1 pm. Then the market fell to around 57000 in the early morning, and the pre-buried short orders in the article made a profit of 1500 points. However, the pre-buried long orders yesterday did not give the opportunity to enter the market, resulting in missing out on the market.
Hot topics of Master Chat:
There are now only 15,552 BTC ($894 million) left in the German government address, which is about 31% of the original amount seized from the pirated movie website Movie2k in January.
In the past 16 hours, the German government may have sold $496 million worth of BTC, including: 10,853 BTC ($637 million) transferred out at approximately $58,659; 2,442 BTC ($141 million) transferred back at approximately $57,560.
Powell's two-day congressional hearing is over. What he said is no longer important. What is important is the market feedback. The US dollar index rose slightly by 0.1% on the first day and fell slightly by 0.12% on the second day. The market's probability of a rate cut in September remained stable at around 73%.
In addition, the CPI data will be released at 20:30 tonight. The current risk asset market is paying close attention to the release of CPI. If the downward trend of the CPI index is clear, it will provide support for the Federal Reserve, which is considering cutting interest rates in September.
Since this is an index that may affect market fluctuations, it is recommended to wait and see before entering a position.
Master looks at the trend:
BTC 1 hour:
As Master said in yesterday’s closing briefing to students, Bitcoin continues to rise while maintaining its 60-day moving average.
The current support and resistance have not changed much compared to yesterday. In order to have a good profit and loss ratio, the master will increase the support to deal with it.
Resistance level reference:
First resistance level: 58000
Second resistance level: 58500
If the price breaks through the first resistance level, then we can maintain our bullish view and look forward to a further rebound.
However, after forming a long positive line in the early morning, it is in the adjustment stage, so we still need to pay attention to the trend of the 60-day moving average and look forward to the market retesting the resistance level.
Support level reference:
First support level: 57350
Second support level: 56700
The current currency price has fallen below the 60-day moving average, so the master expects that a negative line will form covering the long positive line.
Therefore, the first support level can be set as an important short-term support at present.
Today's trading suggestions:
In today's trading, due to the formation of a short-term downward trend, intraday trading can mainly maintain the view of shorting at high levels.
However, in the short term, the 60-day moving average can be used as a benchmark for trading, and the price is expected to retest 58,000.
Please refer to these suggestions when trading
7.11 Master's short-term pre-buried order:
Long entry reference: 55600-56000 range, long in batches, defense 500 points, target 56700-57350
Reference for short entry: short in batches between 59500-59900, defense 500 points, target 58500-58000
