Bitcoin is currently in the third day of adjustment above 63,000 points. From a technical logic point of view, the bullish momentum above the trend reversal point is relatively strong. The hourly and four-hour lines have shown a small-scale retracement trend. I believe that it is in a normal indicative repair market after breaking through the previous high. Specifically, we still need to pay attention to the retracement after 63,000 points.
Yesterday, Bitcoin spot ETFs had a net inflow of 53 million US dollars, which was the ninth consecutive trading day of inflow. The macro sentiment of the OTC market continued to be optimistic. However, the US stock market fluctuated sharply this week, and some sectors retreated sharply, which had a certain impact on Bitcoin in the short term. To some extent, the US stock market is similar to Bitcoin's breakthrough. After the continuous highs, there is a breathing process. If it is strong, it will always be strong. The adjustment period is only a few days.
After many years of compensation in Mentougou, the curtain has finally come to an end. At present, 13,000 creditors have received compensation tokens, and the total number of creditors is about 42,000. The market reaction after the first phase of compensation is consistent with the views of Uncle San two days ago. For most people, this unexpected wealth has failed to form a consistent and unified selling pressure because of its absolute dispersion and long time. Instead, most people choose to hold it temporarily. It is expected that the effect of the full compensation in the later period will be similar.
The world is indeed a huge makeshift team. After the German government sold out the big pie, it issued a statement saying that their pie was sold by OTC. The later explanation was probably because German civil servants had never traded in coins. The deposit to the exchange was just to test the relationship between depth and transaction premium. After the test, it was proposed to trade over the counter. As a result, the circle hyped it up for a week, and the big pie fell by nearly 10,000 points. After countless people cleared their positions, this was actually a mistake.
SATA has been extremely strong recently. After Unisat announced that SATA will become its gas, the price has nearly tripled since the bottom. The continued deflation will lead to long-term benefits for SATA. It is no surprise that it will return to its previous high within a few months. The crypto market is different after finding a good father. While others are still climbing the stairs, it has directly boarded the rocket. In comparison, the joint rebound of Ordi and Rats seems extremely restrained.
As for the Federal Reserve, the probability of keeping the interest rate unchanged in August is about 94.5%, but the probability of keeping the interest rate unchanged in September is 0%. This means that there is basically no suspense about the interest rate cut starting in September. The last shot of the market may not have come yet, but the accumulation of momentum for a new round of main upward waves is actually preparing for bullish momentum.
BTC: Although the bitcoin bulls are strong in the short term, the trend is as mentioned above. After three consecutive days of standing at 63,000 points, it has not been able to reach a new high. Technically, there is a need for a correction of the top divergence indicator in the four-hour and daily lines. Secondly, the U.S. stock market has fluctuated greatly in recent days due to the unprecedented increase in the probability of Trump's victory. Some high-tech companies in Silicon Valley that support Biden have fallen sharply, which has directly affected the trend of the U.S. stock market and indirectly led to the linkage correction of the encryption sector. In terms of trend, the short-term market continues to focus on the bottom of the small cycle correction at 63,000 points. Taking the daily closing line at this point as the benchmark, it is not so easy for the bulls to fall without breaking the position. The three thousand point range from 66,000 to 63,000 points is enough for a small cycle indicator repair.
ETH: Ethereum's short-term bottom is really around 3000 points, and the trend is linked to the big cake. The hype of ETF is still going on. The latest announcement for the listing of ETF products was issued today. Just wait for the final approval of the S1 document. The technical support is 3350 points and the pressure is 3500 points.
The weakness of the altcoins is linked to the trend of Bitcoin. It is expected that the first batch of sector rotation will start after Bitcoin breaks through 66,000 points on the daily line. At present, most of the altcoins are still in the bottoming pattern. Here I would like to focus on WLD. I have never paid attention to this thing before, but the huge amount of unlocking in the future is still worthy of attention. If you have bought this in the recent rebound, don’t hesitate to sell it. The two-year extension period is limited to a limited group, and the actual benefits generated are even more limited. Don’t get caught up in the textual benefits game.
The Fear and Greed Index was 61 during the day.
Finally, stay away from leverage and stock up on spot goods! #以太坊ETF批准预期 #山寨季何时到来？ #美联储何时降息？ $BTC
