$BTC 2024.7.3 Bitcoin market analysis

Grayscale analysis of the sources of market selling pressure: Mentougou compensation, German government selling, US government selling, Bitcoin spot ETF outflow, Bitcoin

miners reducing holdings.

The market does not need to wait for the end of the sell-off, price adjustments will occur quickly, and it is expected to enter a big bull market in the fourth quarter.

The 4-hour chart of Bitcoin shows the risk of falling, with resistance levels at 61000 and 62000, and support levels at 60600. It is recommended to try a short-term rebound after a big drop

Trading strategy.

Today's trading suggestions: The long entry position refers to the 60200-60600 range, and the short entry position refers to the 62600-63000 range. Pay attention to Zhiquan for more real-time information.