Market Review

Yesterday, the big cake rebounded from oversold, in line with the expected value. It started to fall again this morning. The market just rebounded and did not reverse. The double negative factors of the macro environment and fundamentals are still continuing. Today, pay attention to the support of 54,000 below. If it falls below this position, there is still room for decline. Stay defensive and wait for a definite stabilization signal. The second cake fell synchronously with the big cake. Under the influence of the macro environment, it is still not optimistic. Today, pay attention to the support of 2800 below. Stay defensive. The cottage sector fell synchronously with the mainstream. Wait and see. Watch more and do less.

Today's highlights

BTC has entered the oversold range at the 1-hour and 4-hour levels, and the daily level has entered the oversold range. The impact of the macro environment is still there. The basic hawkish bearish market continues to be sluggish, and the negative factors on the market are still there. The situation has not reversed. Wait patiently. The upper resistance of the day is 57000-57500, and the lower support is 54000-54500. The probability of a second bottom today is greater. Wait and see, waiting for the certainty of the third letter

ETH 1 hour, 4 small moving averages have entered the oversold range, the daily level has entered the oversold range, the macro impact is still there: the chain is also sluggish, coupled with the hawkish bearish market continues to be sluggish, the market has not reversed, wait patiently, the intraday upper resistance is 3000-3050, the intraday lower support is 2800-2830, today's second bottom probability is greater, wait and see, waiting for a deterministic signal

BTC rebounded at the weekend, which was in line with expectations. It started to fall again this morning. The macro environment has not improved significantly. The rebound is not a reversal, and we still need to be prepared for defense. Today, we will focus on the support of 54,000 below. If it falls below this position, there is still room for decline. However, the long lower shadow of the 4-hour K-line has taken shape, which is more like a second bottoming out. Don’t be too pessimistic. The market has entered the final adjustment stage. The index has reached the panic level. The mining machine has fallen below the shutdown price. The market pessimism is full. This is the effect that the dog dealer wants. The bull market is still there. Stay optimistic. There is still hope for the future.

ETC rebounded following BTC, which was in line with expectations. It fell again this morning. There was fundamental news that ETF was delayed in passing, and speculation expectations were extended again. However, the macro environment had a greater impact, and the positive effect of ETF was still weakened. Today, we will pay attention to the support of 2800 below. Don’t be blindly optimistic, wait patiently, and do a good job of defense. Waiting for the stabilization signal, the alt market will follow the mainstream and pull back synchronously. The key targets of this round of wash-out by the dog dealer are all on the alt market. Most users have alt market chips that are much higher than the mainstream chips, so the wash-out is serious, creating panic and forcing users to hand over their chips. Today, we will pay attention to the stabilization of the mainstream. The alt market is making plans. If you have caught the opportunity of an oversold rebound the day before yesterday, it is recommended that the short-term part be prioritized and wait for a definite stabilization signal to enter the market again to protect the short-term profits first.

Fundamental news: No major fundamental news today

Primary market information

RGB++ has started free casting, and the recent on-chain activity has increased. RGB++ is also a very good new protocol, which has a good effect on the construction of BTC ecology. Continue to pay attention to this sector. The market continues to be sluggish. Wait for the sector to review its popularity before taking action.

The rune market is still sluggish. Pay attention to high-quality currencies in the rune market and wait for the second wash to start buying.

Intraday mainstream currency support and resistance:

Today's intraday market, BTC's support is 54000-54500, and the upper resistance is 57000-57500. ETH's support is 28002830, and the upper resistance is 3000-3050.

3 cryptocurrencies suitable for bargain hunting when the market peaks, achieving 100 times profit by the end of the year!

1. YUP

According to CoinGecko, Jupiter is a decentralized exchange (DEX) aggregator that allows users to exchange tokens in the Solana ecosystem at the best prices, with low slippage and low transaction fees. It also provides users with the best route to swap directly between multiple exchanges and liquidity pools.

As can be seen in the chart above, JUP has shown resilience and is still trading above $0.67, compared to its all-time high of $2.00.

The most important thing is that Jupiter is the top DEX on the Solana blockchain, and as the SOL ecosystem grows, JUP will increase. So, I believe this project will recover quickly in the coming days and weeks.

2.TRX

Tron is a blockchain-based decentralized operating system, much like Ethereum, that aims to advance the decentralization of the Internet and its infrastructure. Interestingly, the Tron blockchain is built around the usability of its native token, Tronix (TRX).

Looking at the chart below, you can see that the TRX token has remained strong since the bear market bottomed out in 2022. Although it has not hit a new all-time high since 2018, the project has shown progressive strength to rank among the top 20 projects in the cryptocurrency market.

Even with the recent market crash, Tron has maintained a bullish structure and has the potential to reach $0.3 as the market recovers.

3. WHAT

Kaspa is a proof-of-work cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel. Instead, GHOSTDAG allows them to coexist and orders them by consensus.

Kaspa has a large and active community support, who often refer to Kaspa as Bitcoin 2.0, a term that most Bitcoin maxis strongly dislike.

If you look at the Kaspa chart, you will agree that despite the recent low market sentiment, the project has still generated huge profits for investors. To validate this view, Kaspa recently hit a new all-time high on June 30, when the price of Bitcoin had fallen.

As investors have confidence in the coin, I believe it will perform well for the rest of this cycle, considering it only dropped 14% during the recent market crash.

Therefore, this is a project that can recover quickly and make a quick profit as Bitcoin regains strength.