Market Review

Yesterday, Bitcoin continued to fall, and the decline exceeded expectations. The double negative factors of the macro environment and fundamentals are still continuing. Powell's hawkish remarks have further reduced expectations for rate cuts, and market confidence has been hampered again. Currently, the 4-hour and daily lines have entered the oversold range. However, technical indicators can be temporarily ignored before macro expectations. The market may continue to fall, and we still need to wait patiently. Focus on today's non-agricultural data, which is related to the overall trend of this month. If the data is negative, there is still a downward expectation. Bitcoin and Bitcoin will fall synchronously with Bitcoin. The macro environment is still not optimistic. Affected by macro confidence, there is a possibility of continued decline. In the near future, defense should be the main focus. The copycat sector fell synchronously with the mainstream, and most currencies fell sharply. It is mainly a wait-and-see approach, and more observation and less action are required.

Today's highlights

BTC has entered the oversold range at the 1-hour and 4-hour levels, and the daily level has entered the oversold range. The macroeconomic environment is still affecting it, and the fundamentals are still negative. In addition, the hawkish negative market continues to be sluggish. The upper resistance is 5700-57500, and the lower support is 52000-53000. There is a greater chance of a further correction today. It is mainly wait-and-see, waiting for a deterministic signal.

ETH 1 hour, 4 small average level has entered the oversold range, the daily level has entered the oversold range, the macro impact is still there, the chain is also sluggish, coupled with the hawkish bearish market continues to be sluggish, the intraday upper resistance is 3000-3050, the intraday lower support is 2600-2650, today's focus is on the continued callback probability is greater, wait and see, waiting for a deterministic signal

Yesterday, BTC continued to fall, exceeding the expected decline. It fell again in volume early today, and has entered the oversold range in 4 hours. However, technical indicators can be temporarily ignored in the face of macro pessimism. Powell's hawkish remarks have made the expectation of interest rate cuts cut again, and market confidence has been frustrated again. In the next few days, it will still be affected by the follow-up of macro information. We still need to wait patiently and be prepared for defense. Today, we will focus on the data market. If the data is negative, the downward trend will continue. BTC falls below 57,000, and the support below is relatively fragile. There is a support range of 52,000. We have to endure the hard days. If the data is positive, it will usher in a short-term rebound, but it still cannot quickly get rid of pessimistic expectations. More negative news is needed to enhance traders' confidence. The market has entered the final adjustment stage, and the index has reached the panic level. The mining machine has fallen below the shutdown price. The cottage has collapsed again, and the market pessimism is full! This is the effect that the dog dealer wants. The bull market is still there, and staying optimistic is still expected in the future.

Yesterday, ETH fell synchronously with BTC, which was beyond expectations. The fundamental news that the ETF was delayed in passing extended the speculation expectations again, but the macro environment had a greater impact, and the positive effect of the ETF was still weakened. If ETH falls below 2850, the support below is relatively fragile, and there is a support range at 2600. It is likely to continue to fall today. Be patient, be defensive, and seek oversold rebound opportunities.

The altcoin sector fell synchronously with the mainstream, and most of the currencies fell back by a large margin. Today, the market crashed again, and the decline was far beyond expectations. The focus of this round of market manipulation by the dog dealers was on the altcoins. Most users had much higher altcoin chips than mainstream chips, so the market manipulation was serious, creating panic and forcing users to hand over their chips. If today's data is negative, it is expected to continue to fall. The altcoins should wait and see for the day, watch more and do less.

Fundamental news, the current market is sensitive, the non-agricultural data at 8:30 pm today needs to be paid special attention to, which is related to the market trend of this month. Primary market information

RGB+ has started free casting. The activity on the chain has increased recently. RGB+ is also a very good new protocol. It has a good effect on the construction of BTC ecology. Continue to pay attention to this sector. The market continues to be sluggish. Wait for the sector to review its popularity before taking action.

The rune market is still sluggish. Pay attention to high-quality currencies in the rune market and wait for the second wash to start buying mainstream currencies to support and resist:

Today's intraday market, BTC's support is 52000-53000, and the upper resistance is 56000-56500. ETH's support is 26002650, and the upper resistance is 3000-3050

3 altcoins worth buying now that could see a 100x increase by the end of the year!

1.BNB

As a pillar of the Binance ecosystem, BNB provides multiple utility functions, including reduced trading fees and participation in exclusive token sales on Binance Launchpad. Originally created as a utility token for Binance trading fee discounts, BNB’s use has expanded to multiple applications, including trading fees on Binance Chain, travel bookings, entertainment, online services, and financial services.

In the SEC vs. Binance case, Judge Amy Berman Jackson’s ruling played a major role in determining that Binance exchange’s native token, BNB tokens, did not constitute a sale of securities.

Binance Coin uses a unique destruction mechanism, where Binance uses 20% of its profits to buy back and destroy BNB tokens every quarter, thereby reducing the total supply and potentially increasing the value of the remaining tokens. It is working hard to break through the $650 mark. We predict that the BNB price may rise to $806 by the end of this year.

2.BCH

Bitcoin Cash gained 143% in six weeks, surging from $260 to over $600 before experiencing a correction. On the weekly chart, BCH price formed an evening star pattern and struggled to stay above $500.

BCH price recently retested the $350 mark or the 50D EMA. However, a quick spike in buying pressure has lifted BCH price back up. This successful reversal reflects huge underlying demand and foreshadows the Morning Star pattern produced by the weekly Golden Cross.

BCH price is currently eyeing the $600 level as the bullish momentum continues to build. The altcoin’s price is expected to touch the $700 threshold as the market momentum is expected to increase.

3.SUN

Solana, known for its high throughput and low transaction costs, has become a darling of DeFi projects and NFTs and is expected to achieve significant growth. Solana (SOL) has attracted a lot of attention due to Solana's possible ETF approval, and major financial institutions such as VanEck and 21Shares are applying for Solana ETFs in the United States. This approval could significantly increase its price.

Reports have suggested that the Solana ETF could follow the trend of Bitcoin (BTC), which could increase in value by more than 5 times if approved. Top cryptocurrency analysts have also predicted that Solana’s price could reach $1,000 if the ETF is approved.

However, navigating the complex regulatory environment is vital and the success of these applications will be a key factor.