The market is developing as expected. Now the key is whether it can successfully break through the new high.
I think the breakthrough is inevitable, we just need to wait patiently.
If it doesn't rise this time, when will it rise?
The reasons for the inevitable rise are as follows:
1. Bull market trend: The market has experienced a sharp correction. If it falls again, the bull market will be gone, and the trend cannot be easily reversed.
2. Major events: Early August is the time for whether the Ethereum ETF of BlackRock and Fidelity will be passed.
3. Economic data support: This month's non-agricultural and CPI data both point to interest rate cuts, and many voices predict a rate cut in September. Once the interest rate is cut, the US stock market will rise, and some people will cash in their profits. There may be bearish voices, but the short-term positives are still there.
4. Technical support: The weekly exchange rate of ETH/BTC has diverged, showing the potential for growth.
Now we have all the conditions for bullishness. If it doesn't rise at this time, when will it rise? It is expected to rise for another two months, and then it may experience a few months of correction, and then enter the real bull market frenzy brought by the Fed's massive money release.
If the rise is established for two months, many coins are still at low levels. You can add contracts appropriately and roll up your positions to seize more opportunities.