Crypto market analysis 7.16 Long-short game zone, small retracement and continued charge

Bloomberg ETF analyst Eric Balchunas posted on the X platform: "It is reported that the SEC finally responded to the issuer today, requiring them to return the final S-1 documents (including fees) on Wednesday, and then apply for effectiveness after the close of Monday so that it can be issued on Tuesday, July 23."

A recently published research report by JPMorgan Chase also stated that the cryptocurrency "clearing tide" that has crushed the market for months has passed. It is believed that the net inflow of funds into the cryptocurrency market this year will reach US$8 billion, and Bitcoin will rise again in August this year. Elvis, an insider in the cryptocurrency industry, also said that there are indeed some optimistic signals recently, including that Bitcoin mining companies have actually reduced their selling in the past month, and US spot ETFs have also seen a resumption of net inflows.

Daily level market

- ​​The daily level rebounded rapidly at a large level, and the rebound speed was too fast, close to the upper pressure position, the large level pressure is around 65,000, and the lower support position is around 63,800.

4-hour level market

In the 4-hour level market rising trend, the upper pressure is around 65700, and the lower support is around 64000.

 Intraday level analysis

-----Bitcoin's pin has ended, and the annual bottom has appeared. If there is still a possibility of a bottom, then there is a probability of a post-impact shock, but there is nothing special to guard against.

The certainty of Bitcoin is already very high, and the weekly level bottom is around 58000. You have missed this round of rebound.

The exchange rate between Bitcoin and cottage has begun to reverse, and the small cottage season may be coming. The upper pressure of the intraday market is around 65500. The large-level pressure can choose to enter the short position. The bottom support is around 64000, and the intraday short position needs to continue to gamble once.

Spot can safely pass through this difficult moment in the history of encryption, and deal with things calmly. #BTC走势预测 #美国大选如何影响加密产业？