Jinqunqun official account: Why bother to talk about coins

Before the European session, Bitcoin experienced a wave of decline from 59,600 to 58,500, and then rebounded. At present, it seems to be stopping the decline and moving upward, but technically, the rebound trend has not yet been fully formed. It still needs the hourly line to stand above the middle track of the Bollinger Band at 60,000 to barely be considered a bullish position.

Since yesterday, when Bitcoin fell near 63,000, it has fallen 5,000 points. It stopped falling at 58,000, and if you get on the train midway, you can also eat part of the range. Then the next step is still to look at the pressure level of the 60,000 mark. If it still cannot stand firm in the evening US session, it will continue to drop to 58,000.

Currently, both Bitcoin and Ethereum are in an oversold state. The short-term consolidation in the morning does not mean that the decline has been completely stopped. As for whether Bitcoin can stop falling above the 59,000 line, we still have to pay attention to the trend in the evening. Ethereum is still as mentioned before, unable to rise and falling sharply, which is frustrating. In the morning, it was clearly stated that the market will temporarily stop in the white market, and the need for consolidation and correction is the first priority. You can carry out short-term operations appropriately and get out of the market after taking a small profit. We received feedback from Bitcoin in the real market. Friends who followed it made a profit of 400 points. It was a good ending with a proper balance. In the afternoon, we will continue the thinking in the morning and keep looking down.

The market finally fell, $SUI found an opportunity to buy, the weekly volume turned green, and the buying volume was also very large, which was still good for Grayscale's SUI fund.

On the other hand, the TVL of the SUI ecosystem has grown rapidly in the short term, and more than $600 million in assets have been pledged.

SUI will rise in the next Move language ecosystem.

The big cycle constrains the small cycle. The big cycle has confirmed the current and future trends, so we just need to wait patiently.

The short-term trend of the small cycle is just an appearance. The main force is fully capable of controlling the short-term trend. The purpose of controlling the short-term trend is to influence the judgment of retail investors.

After experiencing the tiring market for nearly half a year, and the previous big correction, and finally the recent rebound.

Obviously, retail investors have formed inertial thinking.

Now in the market, I believe that what everyone hears most is: the rebound will end and there will be a big drop next. If you don’t run after the rebound, you will continue to be trapped.

Unsustainability of exponential growth: Although in theory if you enter the market with 10,000 U and earn 10% every day, you can grow your funds to more than 100 million U in less than 100 days, in reality such high-speed growth is difficult to achieve and unsustainable. Market uncertainty and investor psychology (such as greed) often hinder the realization of this ideal state.

Yesterday, our position of 2738 was triggered today. It is still the old routine, entering the market as soon as I wake up. I saw that it would be more perfect if it was raised to 2768 or 2778.

But 2738 is already the limit position I can get with my current cognition. The position is not perfect, but it is better than nothing.

So we can set this target at 2705 or 2695. It reached the range of 2718 and 2715 at noon and in the morning.

Next, it is likely to go down at a very fast speed, and then rebound and continue to rise. Of course, it is not ruled out that it has the possibility of shock, but the probability of shock is relatively small.

Six iron rules of the cryptocurrency circle:
1. Buy with patience, sell with determination, and hold on with confidence.
2. Buy when the price rises and falls slightly; sell when the price falls and rises slightly.
3. Buy in batches, so you don’t lose money; buy all at once, so you lose more money.
4. If you hold the support level for a long time, you will lose it; if you attack the resistance level for a long time, you will break it.
5. Both shorts and longs can make money, but only the greedy ones can’t make money.
6. Eat 80% full, and make 80% of the money from trading

Last year, Bitcoin was still $26,000. Everyone was in fear at the time, and everyone thought there would be a final drop at the end of the year.

I started a countdown to the closing price of $32,000 at the end of 2023, and expected it to break $40,000 at the highest.

As a result, Bitcoin rose more fiercely than I expected.

At the beginning of this year, Bitcoin rose to $73,000 in March, and the market entered a long correction because it rose too fast.

Now it seems more reasonable for Bitcoin to close at $80,000 at the end of the year.

At the end of 2023, Bitcoin will be $40,000.
At the end of 2024, Bitcoin will be $80,000.
At the end of 2025, Bitcoin will be $120,000.

Suddenly I realized that ETH has not broken through the high point of the previous round of bull market.

The highest point of this bull market is around 4100, and the highest point of the previous bull market is around 4900.

I remember that the Ethereum Foundation has accurately escaped the top several times before. Is it a repeat of escaping the top this time?

Everyone who enters the cryptocurrency circle wants to gain wealth through the bull market, which is also the purpose of each of us entering this field.
What kind of gains do you want to get in the cryptocurrency bull market? It does not mean that everyone thinks that the bull market is coming and you will get the results if you enter the market. This depends on what you have paid in the long bear market, whether you have settled down, and have a good in-depth understanding and deep cultivation in this industry.

Everyone is talking about Powell's speech. I actually think that what he said this time is not very important. The rate cut in September, although it cannot be said to be 100%, is 99%. There is no suspense.

The suspense is whether the rate cut will be 25 basis points or 50 basis points. The market expects a 25 basis point cut.
If the rate cut is 50 basis points, it means that the Fed predicts that the economy is about to decline, so it needs to increase the intensity of rate cuts to stimulate the economy. If such a reversal occurs, there will be some negative impact in the short term. If the rate cut is 25 basis points, it is in line with expectations and may be positive in the short term.

However: Powell is unlikely to directly say a 25 or 50 basis point rate cut, and he should give a clear signal that the rate cut is about to take place. In this case, there should be a small wave of small positives in the short term

Market fluctuations are gradually becoming weaker
Bitcoin failed to break through the 62,000 mark despite repeated tests
Gold Nine and Silver Ten are coming soon
This is very good, be gentler and grasp the interval more.
In the next two months, interest rate cuts will also be implemented.

Nothing can be achieved without taking action.
As long as you are willing to walk, there will be a way everywhere.
You can't see the beauty because you don't persist in walking.
Action is the most important thing in life. When you are hesitant,
you might as well take a small step first.
The Duodan I reported to you in the morning has been released.
You can see the results in a real way, and doing it is the most real;
Don't chase the horse when you see the mountain, the only truth is that you can eat it,
which means that the direction is not wrong, and those who understand will understand

Safe withdrawal tips for the cryptocurrency circle: unlock the worry-free journey of withdrawing 5,000 yuan
When you enter the cryptocurrency circle, you will reap a lot of rewards. When you want to safely pocket the fruits of your hard work, such as the exciting 5,000 yuan, will you also have a ripple of bank supervision in your heart? Don't worry, this carefully crafted withdrawal guide will be your right-hand man to protect the safety of your funds and stay away from the trouble of frozen cards!
1. Initial exploration of cryptocurrency withdrawal: a safe choice for novices
Imagine that you have a small fortune in the cryptocurrency circle and are eager to smoothly transition it to a bank account in the real world. But in the face of the unknown, especially whether the bank will "ask" about such small withdrawals, novices often feel uneasy. Don't worry, next, we will unveil the mystery of safe withdrawal step by step.
2. Tips before withdrawal: Know yourself and know the enemy, and you will never be defeated in a hundred battles
The cryptocurrency circle is as deep as the sea, especially on the road to withdrawal, where traps and opportunities coexist. Those OTC merchants who seem to promise "never freeze cards" actually hide mysteries. In order to protect your wallet, you must first understand the truth about frozen cards and how to crack them.
3. The mystery of frozen cards: revealing the two main culprits
The gentle trap of bank risk control: bank cards that have not been awakened for a long time, or sudden large transactions, may touch the sensitive nerves of bank risk control and cause them to "dormant" for a while.

The latest judicial interpretation, buying and selling USDT is money laundering? Virtual currency transactions are not equal to money laundering, nor do they necessarily constitute a criminal offense.

Article 5 of the "Interpretation" issued by the Supreme People's Court and the Supreme People's Procuratorate lists "virtual asset" transactions as one of the ways to conceal the seven types of upstream crimes. The original text is as follows: Article 5 In order to conceal or conceal the source and nature of the proceeds of the upstream crime stipulated in Article 191 of the Criminal Law and the income generated by it, any of the following acts may be deemed as "concealing or concealing the source and nature of the proceeds of crime and its income by other means" stipulated in Article 191 of the first paragraph of the Criminal Law: ... (vi) Transferring or converting the proceeds of crime and its income through "virtual asset" transactions and financial asset exchanges.

We can understand it with a simple formula.
A+B=C.
A is virtual currency transactions
B is the transfer of criminal proceeds
C is money laundering
A≠C

Whether optimistic or pessimistic, the latest minutes of the Fed meeting have laid the foundation for a rate cut in September, the difference is nothing more than 25 or 50 basis points. Powell's speech at the Jackson Hole Global Central Bank Annual Meeting on Friday will pave the way for a rate cut, although with his cautious attitude, he may still pave the way for a rate cut first. Considering that the market has already expected it, more attention is paid to the number of rate cuts this year and the extent of the easing shift.

Today's hot spots in the cryptocurrency circle:
1. Minutes of the Fed meeting: Most participants believe that the September rate cut is appropriate
2: Harris supports promoting the scale of the crypto industry
3: Bnceo believes that there is no need for IPO and focuses on global development
4. The probability of the Fed cutting interest rates by 25 basis points in September is 4%
Today's market:
1. The big cake repeatedly slides, forming a box-type upward relay
2. The US dollar index fell below 101
Today's Golden Rooster:
Front's first place in the list of gains, belonging to the DEIDI aggregation layer that is not related to the chain
Storj's second place in the list of gains, belonging to the Ethereum b of the Storj project

In a bull market, before each violent rise, the main force will definitely suppress the price by any means, forcing small investors to sell at a loss.

After the violent rise, small investors suddenly realized that this was the trap set by the main force! When the market enters the final crazy stage, most people can't help but chase in to get the last bite of meat, trying to expand the principal to increase income. The end result is often stuck at the top of the mountain.

The main force now wants to make small investors have an illusion that the market is about to collapse and a big drop is imminent. If they don't sell, the price will be lower and the account will shrink infinitely.

But all this is just appearance! The real purpose of the main force is to make you see your account shrink and can't help but sell high and buy low.

Ethereum prices have seen a rapid rise driven by positive comments from co-founder Vitalik Buterin, although they still show a 2% decline over the past seven days. Market data shows that Ethereum rose above $2,600 and could extend to $3,000 under the right conditions. However, a decline in network growth could hinder such a breakout. Technical analysis shows that Ethereum market trends still depend on key supply and demand areas.

Key Points
- Vitalik Buterin's positive comments triggered an increase in Ethereum prices.
- Ethereum prices broke through the $2,600 resistance and could rise further to $3,000.
- IntoTheBlock's IOMAP model shows that key support is between $2,292 and $2,373.
- A decline in Ethereum network growth could affect the expected price breakout.
- The Moving Average Convergence Divergence (MACD) indicator needs to issue a buy signal to confirm the uptrend.
- Ethereum price future trends are affected by the supply zone below $2,800 and the demand zone above $2,500.