Market makers and institutions are on holiday on weekends, and liquidity in the market is reduced. This is also the first weekend after the continuous rise after the interest rate cut. It is time to take a break. Although there has been a continuous rise, there is no narrative in the market. We still need to remain vigilant. It is easy to turn sharply to stop the decline here, so control the risk. 🧧#DODO#CATI
Ethereum's downturn has attracted some naysayers. They ignore the following:
- More than half of stablecoins are on Ethereum. - More than 60% of#DeFiassets are locked on Ethereum. -#Polymarketis live on Ethereum. #ETHlooks like a potential contrarian bet by the end of 2024.
$NEIRO $CKB $DYM From mid-March to now, it has been five months of fluctuations. Just hold on. It has been five months, so it doesn't matter if you hold on for another month or two.
How much lower can it fall? It is already at the bottom range. It can't fall any lower. Now it is close to the shutdown price of mining machines, which is basically at the bottom range. Institutions, miners, and retail investors are all in trouble.
In recent days, after the opening of the U.S. stock market, $BTC has fallen first and then risen. Today is Friday. Combined with the market analysis, Black Friday may reappear. Pay attention to the support level of $56,360
Rebound expectation, rebound intervention, the left side said the day before yesterday that 5.25 can be used as a rebound expectation [I didn't do it, breaking through the trend line and stepping back is the right behavior, breaking through the pregnancy line and following the trend is the right behavior]
The view of doing a pullback has always been not to rebound and not to chase shorts
The pullback entry position is 5.55 5.7 5.85. Each of these positions has a pullback. Just like what I said when I woke up in the morning, it can be continued. There are also 1,000 points.
In fact, long and short are not as difficult as you think. You just need to analyze the market and understand the stage of the market. Make different trading plans at different stages and positions
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Cycle view:
1. If you continue to expect a rebound starting point at 5.25, 5.95-6 is still here to determine whether it is a reversal position. 2. Several entry positions of the daily channel remain unchanged. Intraday:
1. Reduce positions at 5.6 and 5.5 for the callback on 5.8
2. The rising point of this rebound is at 5.38 [the starting point of the previous day], so the rebound of 5.25 must not end before it breaks here
3. If it does not stand at the stage and stop falling at 5.95-6 above, then trade in this range
$ETH
Ether has not yet gone out of the 1h trend line
The exchange rate of Ethereum continues to be weak
Those who entered the market at 2188 Ethereum a few days ago started to reduce their positions here [contracts], and added them back when it fell back to 2270. If it fell below 2240, they would leave
Alas, there is a phenomenon in the cryptocurrency circle called "collective death". Just think about it, Musk sent a tweet and changed Twitter's bluebird logo to a dog, and the people in the B circle were all excited and all followed suit.
Musk was secretly happy and quietly sold 450 million Dogecoins, and as a result, retail investors became the buyers.
You say, a world-famous trademark worth so much money, how can it be changed at will? It really was changed! The next day, people changed the dog back to a bluebird, and Dogecoin fell into a mess, and all the contract openers became cannon fodder.
The market has been very sluggish. Whether it is rising or falling, the trading volume is very low, which shows that friends in the currency circle have become particularly cautious and do not have much hope for the short-term market.
Even if the interest rate is cut by 25 points to stimulate the market, there will not be much reaction if there are no other major positive factors. From another perspective, everyone may not have many "bullets" in their hands, and they are basically trapped.
If there is no big capital entering the market or super positive factors next, this year will be really difficult!
This may be the only chance for the cryptocurrency community! At the Federal Reserve's interest rate meeting on September 18, the future of Bitcoin may be determined in these three situations:
25 basis point interest rate cut: may rise first and then fall
50 basis point interest rate cut: take off directly (US short-term interest rate futures show a high probability of a 50 basis point interest rate cut)
Maintain interest rates unchanged: continue to pull back
⚠️ Ethereum faces a "death cross": exchange reserves increase, market direction remains a mystery!
📉 The amount of Ethereum reserves on exchanges has increased, which usually means that sellers may be increasing, which is not a good sign for the market.
📊 The latest data from CryptoQuant shows that since the beginning of August, the ETH reserves in exchanges have been increasing, which usually indicates that prices may fall.
Be prepared, the big market is coming, the altcoin market has been falling for half a year. There are many important events in September, such as interest rate cuts and elections, which will drive the market to improve. Many people are not optimistic about the current altcoin market, but I think it is a good opportunity to lay out now.
Bitcoin has turned bearish overall, trading below its 200 exponential moving average on the daily timeframe. Bitcoin is trading at a critical support level of 58,000.
Bitcoin has revisited this support level multiple times over the past 20 days, with price gains exceeding 8% each time. Based on historical price action, there is a good chance that#BTCwill surge another 8% in the coming days.
In the spring of 2024, he borrowed 97u to buy 200,000u of $ORDI.
He told her that the bull market had just started, and when it rose to 1000u, he would sell it all and buy her a villa by the sea and a sports car as blue as the sea.
At the beginning of autumn, he couldn't bear it anymore. In order to escape debt, he took her to the beach and built a thatched house, rented a blue new energy car, and drove a Didi sports car to pick up people. The couple worked day shifts and night shifts.
The cryptocurrency circle on the Internet (illusion version):
1. 100x coins are everywhere, and you can make money by buying them 2. The contract win rate is 100%, and it is not a dream to increase tenfold overnight 3. Don’t miss the investment research and analysis, and the track and hot spots are at your fingertips 4. You can easily get a Maserati by playing with money 5. Everyone is financially free, living in a big villa and driving a Bentley
The actual cryptocurrency circle (real version):
1. There are many 100x coins, but they are definitely not the coins you bought 2. The small contract win rate is 100%, but the contract liquidation rate of your heavy position + carrying order is 99.9999% 3. Tracks and hot spots are at your fingertips, and the holding income is all negative 4. Others get Maserati, and you get reversed in the end. Think about it, you might as well use the gas to buy an electric car 5. Everyone is heavily in debt. On Thursdays, they look for people in the group to eat KFC with V50, and they still wear their pants with three holes in them
Why do I recommend you to buy Bitcoin instead of other currencies?
The core point is that the value storage function of Bitcoin has been opened.
After the ETF is passed, more and more rich people, institutions and even countries will realize that they need to hold Bitcoin as a reserve asset in the future.
The rich and institutions buy Bitcoin mainly for value storage and long-term inheritance. You can also see that the number of people buying Bitcoin has gradually increased recently, while the number of people selling Bitcoin has gradually decreased. In contrast, the rich buy #altcoin more for speculation and short-term profit. The core is that it is not as stable as Bitcoin!
I still support investing more than one-third to half of the assets in the big cake. I also copied the bottom yesterday. I bought as much as I made in this period🤣
Recently, many friends have been discussing which coins should or should not be listed on #Binance .
In fact, the cryptocurrency market is very free, not like a closed circle. Even if Binance does not list certain projects, these projects will exist, and trading volume and funds will be dispersed throughout the industry.
In addition to projects such as venture capital projects, Golden Dog, and Local Chain Dog, there are also various investment and capital games that will attract funds. After the ETF is passed, the traditional financial market will also invest in the cryptocurrency market.
Let's talk about venture capital. Although some of them are the reason for the surge in coin prices, they basically raise funds from limited partners and have a 7-year lock-up period. In general, the cryptocurrency market will attract more funds and freedom, which will increase the difficulty of centralized exchange rules, but this is also the charm of the cryptocurrency market.
The ten realms of cryptocurrency trading, which one are you at? 🤣
Level 1: Entering the cryptocurrency market for the first time, ambitious and passionate! With the dream of 1000 U, I want to do something big.
Level 2: Obsessed with buying and selling every day, believing in the words of big Vs.
Level 3: Gradually I feel that money is not so easy to make, I lose more than I earn, and the words of big Vs are not so useful. So I started to learn to analyze the news, but later I found that they were all traps, and I began to doubt value investment.
Level 4: Evolved from a novice to a leek, began to analyze currencies and study technical indicators. Slowly I can make a small profit, but most of the time I lose money, the long and short lines are intertwined, and the operation is already chaotic. I know more and more, but I have less and less money, and I begin to doubt myself.
Level 5: New leeks become old leeks, and begin to have their own understanding of the market, but at the same time they fall into a new confusion, prone to self-prejudgment, what to do, how wrong, and their mentality gradually collapses.
Level 6: Through continuous actual combat, I have found my own trading model, which can make more money and less losses, and I have gradually controlled my mentality.
Level 7: I no longer look at any technical indicators, but start to look at the "trend", the rhythm, the emotions, and slowly find my own "way".
Level 8: I have my own unique trading model, strict discipline, I have coins in my hands, but not in my heart, and there are no big fluctuations in my heart, and I can move forward and backward freely.
Level 9: I am no longer obsessed with the currency market, and I regard the currency circle as a fixed profit investment place. I like to study narrative and philosophy the most. At this time, I have understood that investment is the truth of life!