Market analysis and recommendations on August 6

✅️Yesterday's market review

Yesterday was another unforgettable day. Let's recall the anniversaries of the cryptocurrency circle, the 94th anniversary, the 312th anniversary, the 519th anniversary, and now the 805th anniversary. Yesterday, the highest price of the big coin was 58305, the lowest was 49000, and the intraday amplitude was 16%. The highest price of the second coin was 2697, the lowest was 2111, and the intraday amplitude was 21.81%. It fell off a cliff, and the bulls were completely wiped out! The plot of the market seems to be repeating itself. It started to enter a correction trend in early April, rebounded in late July, and started a big wash in early August. The wash was thorough. What can we expect in the future? ? ?

✅️Today's market analysis

After the waterfall, the market began to enter a rebound period. The opening price of the big cake today is 54018, and the current market price is around 55750. The opening price of the second cake today is 2419, and the current market price is around 2505. The current market is in line with expectations. Brother Yu also reminded us about it in the group yesterday, especially the bottom position of 49000. He made his point clear in the group at 11 am yesterday!

Including the entry time mentioned in the community on Twitter yesterday, people started calling on everyone to buy the dip and enter the spot market around 50,500. Currently, the spot profit is at least around 15%!

The market is volatile, especially under the current extreme market conditions. In my personal opinion, the positions that I bought at the bottom yesterday were not for pattern-based trading, but mainly for swing trading. The market has fallen in a waterfall-like manner, and will definitely continue to fluctuate in the future, and there may even be a second test, so the key is to grasp the current profits!

❤️Intraday pressure and support

BTC pressure level 56800-57500-58500

Support level 55600-55000-53800

ETH pressure level 2550-2600-2680

Support level 2480-2400-2300

The probability of going up directly in one go is not high, so you can consider going up from a high altitude.

✅️Spot sector suggestions

First of all, for those users who bought the bottom yesterday, they must place a protective order, that is, a stop-loss order above the cost, to protect their profits.

As for the spot sector that can be paid attention to at present, in fact, the current prices of many altcoins have fallen below the prices in September last year, especially the new coins listed on Binance in less than a year. The situation is terrible, with drops of three times or five times abound.

The only strong sector recommended is Sol sector.

Sol Wif Ray Jto Jup etc

Meme board

Pepe Bome People Floki Bonk等

In fact, for those who are planning to use the platform, the price of the counterfeit goods can be bought at any time at this time, and they can be bought in batches. Although the current market environment, political environment, and financial environment, the more panic there is, the more opportunities there are!

Many people have liquidated their positions due to liquidation, which is an opportunity for those of us who trade spot goods!