Bitcoin market analysis on July 31: cautiously optimistic, rebound to be confirmed
Yesterday we predicted that the market would show a volatile downward trend, but today the market has shown strong support near the mid-track, indicating that market sentiment may be subtly changing. Next, the market may show two completely different trends: First, technical indicators may deviate from the signal, leading a wave of rebound. This rebound may be strong, or it may gradually unfold in the form of mild shocks, and then revisit again. , to complete the structural adjustment and consolidation; secondly, the market directly took advantage of the situation to rebound, sweeping away the previous gloom. The previous decline may be just a cover-up designed by the main force to clean up floating chips and adjust the position structure. In the future, it may be all in one go, and once again Challenging and testing the key resistance area above $70,000. No matter which path, signs of a rebound have appeared. The key is to grasp the strength and rhythm of the rebound. Be cautious about shorting when the strength is insufficient, and actively look for long opportunities after the correction when the strength is significant.
