2024.7.10 Market Analysis

News:

German government sells Bitcoin: Since the beginning of this month, the German government has been selling Bitcoin. From 50,000 BTC to the current 23,700 BTC

Mentougou incident: There is no new news of selling.

European Cup: There are still 5 days before the end of the European Cup. It is expected that the funds of institutions and speculators will gradually return to the currency circle.

Citibank rate cut rumors: It is rumored that Citibank plans to cut interest rates in September. Regardless of whether the news is true or false, from a cyclical point of view, there may be a big rise in the market from September to November.

Ethereum ETF: The probability of Ethereum ETF being listed this week is very high. It is expected that Ethereum may rebound in the short term and then fall again, because it does not have the conditions for a big rise at present.

Technical side:

Bitcoin: Single needle bottoming: Since the single needle bottoming to 53485 on July 5, the market has rebounded, reaching a high of around 58475.

But the support level that has not been broken many times before has now become a pressure level.

Weekly level: The weekly level still needs to continue to wash the market. The MACD fast and slow lines may drop to near the zero axis, and then turn upward to be a reversal signal.

Daily level: Currently, it is oscillating in the box around 54000-58400. The ant channel has only been on a downward trend for 18 days, which is not enough time. It is expected that there will be one last drop, and it is not far from the bottom.

4-hour level: Although there has been a wave of rebound, this is not a reversal signal. The short-term support is around 56930. The oscillating downward trend is obvious. It is not advisable to blindly look at more for the time being. Wait for a clear signal to appear at the bottom of the 4-hour period before conducting spot operations.

Overall, the market is currently in a volatile stage and needs to be operated with caution. Wait for a clearer signal to appear before making a large-scale purchase.

#BTC下跌分析 #TON #sol板块 #ETH🔥🔥🔥🔥 #CPI数据

If you want to know the specific opportunities and specific decisions, click on the avatar to follow the homepage, you can get the position allocation strategy, teach you how to make money in the bull market and earn coins in the bear market