Market Analysis 7.16
Good afternoon, brothers. Has the bull market returned?
If there is no news from Mentougou, I will still be bullish on the market.
There are currently three major positive factors:
(1) Powell’s speech last night gave a boost to the interest rate cut, saying that he would not wait until inflation drops to 2% before cutting interest rates, which is a major positive.
(2) Trump is expected to attend the Bitcoin Conference and give a speech on July 22 (next Monday). The world’s most powerful boss supports BTC, which is terrifying.
(3) Ethereum ETF will be launched on July 23 (next Tuesday).
The market rebounded for 3 days and will always pull back. You can stop profit on your position.
BCH and WLD can be shorted with a small position, and stop loss when the price rises by 3%.
Because the news from Mentougou came, it is not only bad for BTC, but also for BCH.
WLD has a large daily selling pressure,
$7 million per day, $50 million in 7 days.
Now this price is suitable for shorting.
Long-term bullish, but beware of Mentougou continuing to cause trouble.
140,000 BTC, only a few thousand have been transferred so far.
This is the norm in investment. There are rarely smooth sailing.
There are various reefs and storms in the middle.
But we have a distant mind and will always reach the land of wealth.