Last night, Powell, the Fed's chairman, gave an important signal that the next meeting will not raise interest rates, which means that the rate will remain unchanged or lowered. Several major institutions predict that interest rates will start to be lowered in September. The end of July and the beginning of August are good times to lay out opportunities.
Bitcoin rebounded! The W double bottom neckline broke through, and it is expected to rebound to the resistance of 60,000. The previous bottoms will become resistance to the rebound here. The greater resistance is around 61,000, because this is the downward trend line. You can short a small amount when it reaches this point. If it breaks through, stop loss and go long.
But I like short selling too much. I prefer to buy at dips. There are many discounted coins on the market. It is fine to enter the market in spot or at a low multiple. Recently, whether it is SOL PEPE, BNB, or Floki, they have all rebounded well.
The current market is in a oscillation zone between US$53,500 and US$58,500. Short-term swing traders can use the Bollinger Bands to move back and forth. This will test your eyesight and hand speed. If you can't treat yourself as a robot, it's best not to dance on the tightrope, unless you are a top contract futures expert.
Even if you can see the general direction, it is difficult to grasp the entry point. Do you think you are right at first sight, but fail at the first step? Every time you are stopped by the dog dealer, and then you run wildly in the direction of the trend you judge
This may be the last big drop before the bull market, yes, but will it end so soon?
I don't really believe it. I would rather buy at the right bottom and buy at a relatively high position, because big funds want certainty. Of course, what I said may not be right, you can also use batch bottom buying to lower the cost of holding positions. Anyway, kill the pig and kill the buttocks, everyone has a different way of killing. There are a lot of buying orders here at 53,000, including many institutions that entered the market at the last detonation point, so it is like falling in the middle of a cliff and being caught by a stubborn stone life-saving straw. Even if it breaks, it will take time to consume. Everyone should have confidence in the market! It cannot affect decision-making. Just hold the spot for the long term. There will be one last drop at most. Hold on to your chips, and persistence is victory.
There will be some critical news in the next week, including CPI data, possible ETF news, and some news about SOL's application for ETFs.
