7/29 Analysis of Encryption Market Dynamics

BTC market overview:

Short-term adjustment, long-term optimism: During the weekend, BTC experienced a slight adjustment. Although Trump released a number of positive news at the BTC conference, the market experienced a temporary flight. However, this short-term reaction is actually the accumulation of long-term gains, indicating that the BTC cycle will continue to break upward.

Breaking through the resistance, the trend is clear: This morning, BTC successfully broke through the resistance range of 68000-69000, showing a healthy upward trend. The selling pressure related to the Mentougou incident and ETFs has gradually weakened, and its impact on BTC has been limited.

Outlook: At present, BTC has left the consolidation range, and we will pay attention to the breakthrough of the 70,000 integer mark during the day. The mid-term bull market has officially started, and the subsequent market is expected to rise slowly, waiting for the arrival of the main rise.

ETH trend analysis:

Consolidation is over, upside is expected: ETH has also ended its recent consolidation pattern. The impact of grayscale selling pressure is limited, and the adjustment cycle is shorter than expected. It has not had a significant impact on ETH. Pay attention to the breakthrough of the 3400 resistance level.

Copycat opportunities:

SATS, PEOPLE, CKB: In the past two months, SATS deserves special attention. You can buy it in batches on dips. It is expected that there will be major benefits in September. PEOPLE is also a key currency, suitable for building positions on dips, waiting for good performance before the November election. CKB can consider opening a short-term position to capture short-term rising opportunities.

RGB++: The new protocol RGB++ enables free casting and increases the activity on the chain, which has a positive effect on the ecological construction of BTC. Recently, there have been constant new benefits in the sector, and new models are about to be released. Pay attention to early opportunities.

Other altcoins: You can pay attention to community news and consider opening positions in other altcoins. As mainstream currencies gain momentum, they are expected to rise simultaneously.

Fundamentals and market information:

Important events: The Federal Reserve’s interest rate meeting on August 1 will become the focus of the market.

Primary market highlights: The activity of the RGB++ sector has increased, and new models are about to be unveiled, providing traders with new focuses and opportunities.

Intraday trading:

BTC: The support level is 68500-69000, and the resistance level is 70200-70700. Operate flexibly according to the market and pay attention to the breakthrough situation.

ETH: Support level 3200-3250, resistance level 3370-3430

The market is currently in the middle of a bull market. Although short-term fluctuations are inevitable, the long-term upward trend has not changed.

Select currencies, open positions at dips, and wait for the benefits to materialize.#比特币大会 #美联储何时降息？