I won’t elaborate on the reasons for this wave of ETH and BTC crashes (if you are interested, just review my previous articles)

In fact, every big drop is teaching us how to trade in cryptocurrencies, how to manage our positions, and how to respect the market!

In just a few days, the Bank of Japan raised interest rates, the situation in the Middle East became tense, a certain technology stock crashed, the US SAM rule was triggered, and other negative news made the risk aversion in the global financial market reach its peak! Almost everyone is selling! This big drop is not a big drop in the cryptocurrency circle, but a global economic downturn. Everyone is afraid that the US economic recession will trigger a financial crisis. The cryptocurrency circle is in a relatively strange position at this stage. In this case, I once again suggest that everyone should focus on short-term trading! ! ! !

If you also want to dig deep into the cryptocurrency circle and maximize your investment returns, but you can't recognize the market, then no matter how good the opportunity is, it has nothing to do with you. Follow me on the homepage, and I will share spot codes, bull market layout strategies, and 100-fold potential coins for free every day!

Just a reminder: the current average mining cost of each Bitcoin for US mining companies is about US$43,000, so long-term investors don’t need to be too anxious!

After the extreme market of Black Swan, BTC and the market ushered in an oversold rebound, but the best here is the second Yang

BTC price is 57000. From the perspective of K-line, the price has risen to the half point of the long Yin line. From the perspective of the moving average, the rebound has reached the 5-day moving average of the daily line. The rebound will not continue. I think the rebound will end today. There is an expectation of another decline. The short-term short-selling of contracts has a high chance of success. At present, the trend must obey the measurement of space and time most of the time. Smart bottom-fishing funds that entered the market at a sharp drop will realize profits and leave the market today. There is an expectation of a 4-hour level decline here for capital flight. If it can return to below 51000 again, it is necessary to cover the spot.

The current market is volatile, and the spot can also be used as a short-term operation. After the first oversold rebound, the decline will form a new range of shocks. The mid-line 58000~52000 will continue to shock and repair for more than a week. In terms of operation, the contract has a high chance of shorting at highs, and the short-term pressure level of the spot will be taken actively. The spot mid-line depends on the 4-hour level callback. If it falls quickly and falls a lot, remember to buy back.

BTC short-term pressure level is 57230 ~ 58110, the first support level is 53850, and the second support level is 51000;

For long-term ETH, keep the pending order at 2200 points, and place it downwards to enter the front position!!! Short-term means that after entering the front position at 2200, if the market rises, we can make a profit of 5%-10% and leave! But many people in the short term leave around 2400. Just sell it and make a profit. Don’t worry about it, just wait for the market! For long-term, just hold it after entering at 2200! Make orders according to your own operations!!! Position yourself well in the currency circle, and there will be a good result later!

Views on the upcoming market:

As long as the sovereign currency is to be issued, money is to be printed, and money is to be released, the price of Bitcoin will definitely rise, and there will definitely be a bull market. And the whole world, the whole society wants to develop, sovereign currency will be permanently issued and money will be released. In addition, the catalysts for this round of Bitcoin bull market are: Bitcoin cycle bull (it has been halved at the end of April this year), Bitcoin ETF bull (Bitcoin ETF has been approved, and Ethereum ETF has also been approved), Bitcoin interest rate cut, money release bull (interest rate cut and money release have been confirmed to start in September, and money release and money release are pending).

Bitcoin ETF is bullish. The world's smart money managers BlackRock, Grayscale, Bitwise, Hashdex, iShares, Valkyrie, Ark 21Shares, Invesco Galaxy, Vaneck, WisdomTre, Fidelity and Franklin and other Bitcoin ETF institutions have all come from traditional finance to Bitcoin. In the future, as long as there is a substantial interest rate cut and liquidity release, Bitcoin's incremental funds will definitely overflow and flow in. (Bitcoin's interest rate cut and liquidity release are bullish. We will talk about this in detail after the September cut begins!)

I would like to emphasize these useful points again. I hope everyone will think about them before making decisions:

1. Hold BTC and ETH with a large position, and use a small position to buy new concepts. If you make the right small position, you can also make a lot of money, but if you make the wrong full position, you will suffer for a whole cycle.

2. Always keep 2 layers of positions and hold them tightly, unless 312 really comes. This is the last line of defense to ensure your mentality.

3. Always remember to add positions and build positions in batches.

4. Don’t do contracts and stay away from leverage.

The market has gone through too many negative events, adjustments and repairs: such as Mtgox, the German government selling coins, local war conflicts, the Bank of Japan raising interest rates, etc. After many negative events, the market still resisted the risk, and the bottom signal was briefly confirmed. The market is repairing and adjusting. The short-term panic selling needs time to repair. After the repair, the market will sprint upward again.

We should get used to building positions when the market is falling, rather than buying after it has risen. The market is now in a mess, with no volume during the day and the US stock market at night. Last week, the market was rising during the day and falling at night, but now it is sideways during the day and then rising at night! The overall economic environment is not good at present, with wind and rain looming, the Federal Reserve has been slow to cut interest rates, and various stock markets are also turbulent! At this time, we must keep more U in our hands in case of emergency! (Alas, I have seen too many people in the circle blow up their positions and big Vs sell their accounts for cash recently)

Buy the top 5 100x altcoins that could make you a millionaire!

1.SUN

Market value: $52.57 billion

Solana is designed to support decentralized finance (DeFi) applications, decentralized applications (DApps), and smart contracts. It operates using a unique combination of Proof of Stake and Proof of History mechanisms, which enables fast and secure transaction processing. Solana's native token SOL powers the platform. Solana's strength lies in its ability to process a large number of transactions per second with minimal fees. Its extensive ecosystem and collaboration with various projects have promoted its development and adoption.

When SOL was launched in 2020, its price was $0.77. By late July 2024, its price had risen to about $156.62, a 20,241% increase. Over the past year, Solana’s price has soared 405%, making it one of the best cryptocurrencies to hold in 2024.

2.BNB

BNB is a token launched by the Binance cryptocurrency exchange in 2017. It serves two main purposes: providing holders with special benefits when using Binance, such as reduced transaction fees, access to the Launchpad and Launchpool programs, cashback on purchases using the Binance Visa Card, and more. Additionally, BNB is the native currency of Binance Smart Chain, a variant of Ethereum that offers significantly reduced transaction fees and allows developers to easily deploy EVM-compatible decentralized applications. Originally known as Binance Coin, BNB has undergone a massive rebrand.

In 2017, the price of BNB was just $0.10. By late July 2024, its price had soared to around $569, a 568,609% increase. Over the past year, the price of BNB has risen by 76%. Recently, the Binance cryptocurrency exchange announced a new program called "HODLer Airdrops," which will provide airdrops to users who own BNB tokens in Binance's Simple Earn lending product.

The HODLer Airdrops program provides additional incentives for users who hold BNB tokens. BNB tokens pledged for the Simple Earn product will also be eligible for other benefits such as the Launchpool and Megadrop programs and Binance’s VIP program.

3. BABY

Market value: $2.64 billion

Pepe is the second largest meme coin by market cap and the 26th largest cryptocurrency in the world. Although Pepe was not initially promoted as a utility token, it quickly gained popularity and developed into a legitimate cryptocurrency with a loyal following.

Over the past year, Pepe’s price has surged 423% and is up 21,428% since April 2023. According to PEPE’s roadmap, the team plans to expand its ecosystem with new tools and features in Phase 3, potentially providing real-world utility for PEPE.

4.FLOKI

Market value: $968 million

Floki (FLOKI) has rapidly evolved from a meme coin into a thriving Web3 ecosystem that emphasizes community engagement and strategic marketing. It has expanded its product offerings to include TokenFi for NFT and asset tokenization, an immersive Play-to-Earn (P2E) metaverse, rewarding staking dApps, and a vibrant DeFi marketplace. Unlike other meme coins that lack intrinsic value, FLOKI operates as a multi-chain token on both the Ethereum and Binance Smart Chain (BSC) blockchains.

With a total market cap of $968 million, FLOKI is the sixth largest meme coin by market cap. Over the past year, Floki’s price has increased by 365%. Given its growing popularity and community-driven innovation, Floki is a cryptocurrency worth considering.

5.AVAX

Market value: $7.18 billion

Avalanche (AVAX) is a fast-rising blockchain platform that aims to transform decentralized finance (DeFi) and enable the creation of highly scalable and interoperable decentralized applications (dApps). Avalanche features a unique consensus protocol called Avalanche Consensus that ensures fast, secure, and low-fee transactions.

With a market cap of $7.19 billion, AVAX is the leading DeFi token, having surged 50% over the past year. Avalanche's focus on scalability, high throughput, and low latency makes it a potential game changer in the DeFi space. By providing developers with the tools to create powerful and efficient decentralized applications, Avalanche is committed to overcoming the scalability and usability challenges faced by many existing blockchain networks.