July 18, 2024 Market

News:

- Tether announced yesterday that it would issue 452 million USDT, and market liquidity was further improved.

- The BTC holdings of Hong Kong ETFs have exceeded 5,000, setting a new record, and the growth momentum is unabated.

- More than 36% of Mt.Gox BTC have been successfully distributed to creditors, and "whales" in the market continue to increase their holdings.

- The highly anticipated Ethereum ETF is expected to be listed next week, which is expected to trigger a new round of speculation in the market.

- The market expects that the possibility of a rate cut in September will increase further, bringing a loose environment to the market.

Disk:

- At the weekly K level, the big cake encountered resistance near the Bollinger middle rail of 65,500 points. If it can effectively break through this level, 70,000 points will be the next target. This week will be a decisive week.

- At the daily K level, after five consecutive positive lines, a negative line appeared in the morning today, and the market retracement was obvious. Next, we need to observe whether the Ant Channel at the daily K-level starts an upward trend, which is expected to be clear this weekend.

- At the 4H level, there will be a small correction in the short term, with the support level around 62800-61800.

- The positive news of Ethereum ETF may further drive the market up. In terms of operation, be cautious and use a maximum of 70% of the position, and wait for the market to completely confirm the reversal of the upward trend before considering full position operation.