Yesterday, BTC had a big negative line of more than 5% from above 63,000 points and directly broke through the 60,000 mark, with the lowest point reaching 58,402. After the downward pin, it has now pulled back to around 60,000 points.
Bitcoin has been weak for a long time, and the news of the Mentougou incident dealt another heavy blow to the already fragile Bitcoin. This was the direct reason for yesterday's sharp drop that broke through the 60,000 mark.
The Mentougou incident is brought out for hype every year, whether true or false, and each time it brings serious impact to the market, and of course this time is no exception.
Today's highlights:
BTC 1-hour and 4-hour levels on the daily chart have entered the oversold range. Don't enter the oversold range. The impact of the macro environment is still there, the market is sluggish, and the fundamentals are still negative. Wait and see. The upper resistance is 62000-62500, and the lower support is 56000-57000. After the rebound today, the probability of further decline is higher. Wait and see patiently.
ETH's 1-hour and 4-day moving averages have entered the oversold range, and the daily level is below the healthy level. The positive expectations have been exhausted. The upper resistance during the day is 3400-3450, and the lower support during the day is 3120-3220. After today's rebound, the probability of further decline is higher, so wait and see.
One thing that needs attention is that, except for the continued decline of Bitcoin, most of the altcoins in the market have stopped falling and even started to rebound. This is a counterattack after the market bulls were suppressed to the extreme. The stronger the counterattack of the altcoins, the more funds are involved, and they can be the focus of attention and layout in the future.
There is no point in panicking at this point in the market. There is no market that only falls and never rises. The rebound that is supposed to come will still come!
The market is recovering, buy these 3 cryptocurrencies at the bottom, and you can get a 100-fold increase in this bull market and achieve financial freedom! !
Stop worrying about the bull leaving and the bear coming.
The layout is ongoing, communication +: Btc4532 Welcome everyone to participate and witness the miracle moment together
I can tell you clearly that this is just an adjustment phase in the middle of the bull market. We haven't even reached the late stage of the bull market yet. Why are you saying that the bull market is over? However, it is not wrong to say that it is a bear market now. From March to June now, it is indeed a bear market. The next stage of the bull market is expected to start in September-October. This wave of adjustments since March is expected to last until mid-August. In fact, this bull market can be called a cross-bull-bear market. Since last year, the market has no longer followed the rules of historical bull markets, which has caused those players who tried to replicate the past bull market to make mistakes again and again.
TON
Backed by Telegram with 900 million users, TON has performed very well in the cryptocurrency market, ranking 9th in market value among all cryptocurrencies, and its TVL has reached US$609.78 million.
Eight days ago, TON hit a new high of $8.25, which is remarkable among the altcoins that have experienced deep pullbacks.
Despite this, the token has surged 7.4% over the past 14 days. Moreover, market sentiment towards TON remains bullish, with the Fear & Greed Index reading at 71 (Greed). The token continues to trade above its 200-day simple moving average.
MSEK
Maker is the governance token of MakerDAO and the Maker Protocol, used to vote on the organization's operational decisions. Both are based on the Ethereum blockchain and allow users to create and trade the DAI legal-collateralized cryptocurrency.
MakerDAO recently added the Direct Deposit DAI Module (D3M) to Spark’s MetaMorpho Vault, creating a decentralized financial system. This will enable Spark to provide 500 million DAI to Ethena’s USDe/sUSDe market pegged to DAI.
Currently, MKR is priced at $2,381 and the Fear & Greed sentiment for the token is currently neutral with a Fear & Greed Index reading of 71 (Greed).
The current market value is US$2.216 billion, and the trading volume in the past 24 hours is 130 million.
RNDR
Render Token (RNDR) stands out in the market with its unique advantages of 3D rendering and blockchain technology. With the attention of giants such as Apple and the possible expansion of the platform, RNDR is expected to become one of the most worthwhile altcoins to invest in. Market experts predict that its price will usher in a sharp rise.
Finally, there are still many things that are not written here, such as specific opportunities, specific decisions, and advance ambushes of layout. These things are often not something that can be summarized in one article. Follow me to view the pinned posts and share more bull market strategies and cutting-edge cryptocurrency consulting for free.
