The market may start an upward trend in the next month. It is recommended to arrange it now! Bitcoin (BTC) fell from its historical high of $73,000 to $53,000, a drop of about 27.4%. Considering that the adjustment in the second half of 2023 is about 21%, the current drop seems large enough. The market has met the "fall long enough and too much" adjustment cycle from March to July, which matches the length of the adjustment cycle in the past bull market cycle. Most altcoins fell by more than 80%, showing strong market pessimism. Technical indicators show bottom signals At $53,000, the relative strength index (RSI) showed a daily oversold bottom divergence signal, which is a positive technical indicator; at the same time, the price quickly rebounded and stood on the 120-day moving average. Recommended operation strategy Position management: In view of the above analysis, it is recommended to maintain a 50%-60% position to cope with the possible upward trend. Time to add positions:
If Bitcoin breaks through the previous high of $73,000, you can consider adding positions further.
If the market moves towards a low-probability event, that is, a sharp decline occurs again, you can add positions at a low level.
Asset allocation: At this stage, it is recommended to mainly hold Bitcoin, because it is expected to lead the future rising market.
This callback is expected to be the last wave, and the next wave will be a violent bull!
Recommended five potential currencies: WIF, ENS, TON, FLOKI, BOME
WIF:
Features: One of the altcoins with the largest increase in the first half of the year, belonging to the Solana ecosystem.
Fund movement: There are major funds buying, and the holdings have increased significantly.
Potential assessment: The potential is large, and the estimated rate of return is between 50%-200%.
ENS:
Concept: Ethereum domain name service, providing decentralized domain name solutions.
Features: Strong resistance to decline, stable performance during market downturns.
Suitable for people: Suitable for investors seeking stable returns.
Estimated rate of return: 30%-80%.
TON:
Features: Rich ecology, promoting user growth through small games and other applications.
Future Outlook: It has long-term growth potential and is worth paying attention to.
Estimated rate of return: 50%-200%.
FLOKI:
Features: A new popular currency with high community activity.
Development potential: Short-term volatility is large, but long-term growth potential is optimistic.
Estimated rate of return: 40%-150%.
BOME:
Features: It has the potential to become a dark horse in the market!
