Brothers, this is terrible. The release of CPI data last night immediately caused market turmoil. First, the US stock market plummeted, and Nvidia directly shrank by more than 180 billion. Then the US dollar also plummeted, and gold was forced to break through the 2,400 high.
The CPI data released last night: 3% year-on-year, expected to be 3.1%, which is lower than expected. This is definitely good news. Moreover, the first negative growth in CPI has increased the expectation of interest rate cut in September to 91.8%.
However, what confused everyone was that although it was obviously good news, the U.S. stock market and the U.S. dollar plummeted, and the crypto community also fell inexplicably.
Tangren believes that the reason for this phenomenon is that the overall economic situation has not improved. The positive news cannot effectively solve the problem of poor liquidity. Under the friction between the market and the short sellers, everyone has the mentality of: I don’t care what you say, I only care what you do.
Therefore, it is not surprising that the positive CPI has turned into negative news. However, there is no need to worry too much. Although the positive news has not been delivered, Tangren believes that the medium- and long-term trend is still positive. As the liquidity problem is resolved after the interest rate cut, the market will regain vitality.
At present, there are still several mountains that need to be climbed in front of the bulls. One of them is the big cakes sold by Djokovic. Djokovic received a lot of big cakes in this European Cup, so that his mind is not on winning the championship.
From Monday to now, Xiao Dezi has sold more than 30,000 Bitcoins. Yesterday, the price was not agreed upon and 4,169 Bitcoins were returned by the exchange. It is said that Xiao Dezi now has about 9,000 Bitcoins left. We don’t know whether it is true or not, but if there are only 9,000 Bitcoins left, the market can definitely take them.
Speaking of Xiao Dezi selling big cakes, everyone still remembers that there was news a few days ago that Sun Ge threatened to buy the big cakes from Xiao Dezi at a premium off-market to reduce the impact on the market. I was puzzled at the time. Sun Ge has always been a man who doesn't show his eagle until he sees the rabbit. Why did he suddenly become kind-hearted and want to stabilize the coin price for the leeks?
As a result, there is news today that Sun Ge opened a huge long order of Bitcoin at around 67,000, with a position of about 420 million US dollars and collateral of 460 million US dollars of USDT. If the news is true, then Sun Ge has lost a lot this time! I was wondering why Sun Ge was so anxious when he saw Xiao Dezi selling coins. Everyone thought Sun Ge was saving the leeks, but he didn't expect that he was saving himself!
In addition to Xiao Dezi's selling pressure, there is also selling pressure from miners, Mentougou, FTX and other aspects. After these mountains blocking the way of the bulls are passed one by one, Tangren believes that the market will usher in a comprehensive recovery in August.
Let's look at the Bitcoin ETF. Yesterday, the ETF had a net inflow of US$79.2 million, of which BlackRock bought US$72.09 million, Grayscale sold US$37.69 million, and Fidelity had an inflow of US$32.68 million. It is gratifying that the ETF has had net inflows for five consecutive trading days, and funds are slowly becoming active.
According to online rumors, the Yitai spot ETF will be officially listed around the 15th. Although the positive news of the Yitai ETF has been digested in advance, Tangren is still optimistic about the opportunities it will bring after the launch. Targets in the Yitai ecological sector such as OP, SOL, IDO, etc. should have a significant increase after the ETF is launched.
In the short term, Tangren believes that the bears are still in control of the entire situation. This can be seen from the fact that the copycat stocks follow the decline but not the rise. The positive CPI data last night instead became an opportunity for the dog dealers to reap the leveraged chips in the market. The current situation is a bit dog-like, and the dog dealers are like: If you don’t buy, I will try my best to raise the price for you. Once you get on board, hehe, I will smash it hard!
So, if you ask Tangren what to do next, Tangren believes that there is no need to panic in the spot sector. If it dares to fall, you can boldly buy the bottom. At most, you will hold it for a longer time, and there will be no loss. As for the contract sector, it is a job like catching a flying knife in your crotch. You have to adjust and change at any time. If you are interested, please visit the Tangren community to see the details.
In short, finally back to the core, in the bull market, what to buy? How to buy? It is very important, but when to sell is more important. If you want to know more about the interpretation and strategy of the market, add a follow, find Tangren, and play in the crypto circle together.
Tangren interprets the market
Big cake: The market basically fluctuates around 57000 during the day, with the overall amplitude within 1000 points. The volume has weakened. The four-hour line shows that the market has a trend of going out of the bottom, but it is still difficult to rise in a short time. The next market will continue to be bearish. The upper pressure is 58500 and the support is 55500.
Auntie: The trend during the day was weak, the four-hour line continued to show a downward trend, and the hourly line also continued to fall. Compared with the previous few days, the transaction volume has also continued to decrease. The current trend shows that the market will continue to fall below 3000 to continue to wash out. The subsequent market is mainly bearish, with a pressure level of 3200 and a support level of 2950
In terms of altcoins: the overall market is still in a correction during the day, with only the inscription sector performing strongly, and some new coins suffering larger declines, so new coins should still be participated in with caution. The current market is still mainly wait-and-see, and continue to pay attention to the MEME sector and Ethereum L2.
Tangren Talks Strategy
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies cannot be shared with everyone in time. Therefore, you can find Tangren by reading the introduction on the homepage of the article and send a message to receive it.
The essence of Tangren's trading strategy: the first step is to determine the trading cycle, the second step is to confirm the trading direction, and the third step is to formulate a trading plan. The plan must clearly state: where to enter, why to enter, how much to enter, how to exit, where to exit, and why to exit?
What should you do if you get the market right? What should you do if you get it wrong? If you don’t understand the market, don’t give yourself problems.
Each of my plans includes three predetermined results: exit with a stop loss, exit with a breakeven, and exit with a profit. Regardless of the result, I will review and summarize the gains of this plan after the plan is completed.
