The market has been falling these past two days, and many people are looking for reasons for the fall. There are thousands of explanations for each rise and fall of the market, but post-analysis is often useless. We need to grasp the essence of things and find the turning point of the market before the market changes. Only in this way can we truly outperform the market.
The biggest feeling that Dan Zong has in this round of market is the lack of liquidity. In China, new investors are very rare. Previously, judging by the number of active wallets on the chain, there are very few new investors in the market this year, and the funds flowing in are all in BTC. The copycats have not formed a relay effect, which is the biggest problem in this round of market.
The rise at the beginning of the year was mainly due to the entry of US ETF institutions. It can be clearly seen from the daily chart of Bitcoin that several tops were formed near 40,000, each accompanied by a large trading volume, and the three tops were lower than the previous ones. The continuous increase in volume at the high level of the Q2 cottage can basically be judged as the shipping behavior of large funds. Combined with the excitement of the leeks above 73,000, the short-term adjustments of the cottage are reasonable, of course, this is all after the fact.
June was a thrilling month, but the thrill is not over yet. When I was live streaming at the beginning of the month, I told everyone that the volatility would be very large this month. However, it was unexpected that the altcoins had the largest volatility, while the mainstream coins such as BTC had relatively small volatility, which was really unexpected. For experts, making money in this market is as easy as breathing, but for leeks, it may be heaven and hell in a single thought. Try to do as little as possible when you don’t understand the market. It is better to miss than to make mistakes.
Market analysis:
BTC：
BTC reaches the first resistance level of 64700, which is also the support level of MA120. There will be a good rebound. Let's observe the rebound today.
ETH：
The 3550 support given yesterday has been broken, and the next support level is 3250;
Potential altcoins worth paying attention to at present:
The altcoins are in a terrible state. Many coins have fallen below the starting point before the New Year. Don’t leave the market at this time. You can only wait and see. “How cold the winter is, how hot the summer is” because 90% of the people in the market are trapped. ZK is online, and the market value is particularly large. You can wait and see, but it is not recommended to hold!
