BitEagle 🦅8.17 Accurate Market Analysis @Everyone
Good morning, brothers. Yesterday, BTC fell to $56,200.
This morning, I reminded you of the strategy: Hold on and don’t panic. Holding on means victory.
This morning, it rebounded to $59,300. At this time, we need to remind you of the strategy:
Don’t chase high prices. There is a lot of pressure when it approaches $60,000.
It’s enough to keep a 70% position.
In terms of on-chain data, stablecoins continue to flow in, which is good.
Yesterday, I analyzed the factors of the long-short confrontation for everyone.
A big reversal will not come immediately.
There are three major factors that determine that a real reversal will take time:
(1) Mentougou released $2 billion worth of BTC three days ago, which will take at least two weeks to digest.
In addition, there are about 50,000 BTC that have not yet been released.
(2) The US government is also suspected of selling coins, transferring more than 10,000 BTC.
(3) The world is in constant conflict, and the conflict between Iran and Israel is likely to continue to expand.
But the good news is just around the corner:
(1) A lot of stablecoins are flowing into the exchange, and they remain strong, with no signs of decline in the near future
(2) Many big capitals are still buying at the bottom, for example, the day before yesterday, an institution, Marathon Digital Holdings, bought $249 million (4,144 bitcoins)
(3) The Federal Reserve is about to cut interest rates and release water
It’s still the same old conclusion:
The market may recover in late August-early September and begin to reverse the trend.
Some high-quality currencies: STX, FTM, CHR, ZK, AR
Some currencies to avoid: SUI, Arb, Wld, Strk, Apt, Sand, XAI, ENA
Just lie down during this period, just lie down for about half a month to one month,