The market has rebounded slightly since last night. Are many people eager to try and buy at the bottom again?

“There will be a rebound after a sharp drop, and there will be a correction after a sharp rise.” Today’s rebound is not a return to the bull market, but a market law.

If you don’t understand the market now, are unsure and unclear!

My point of view is: wait and see!

The current rebound is temporarily regarded as a short-term oversold rebound. The drop to $48,888 did not form a bottom. Although the amplitude exceeded 20,000 points, it is not certain that the five waves of decline have ended. Therefore, it is not recommended to hold yesterday's "bottom-picking" for too long, and it is recommended to take profits in batches.

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Bitcoin (BTC): The rebound at the 2-hour level has been completed ($55,600), and the current pressure is at $56,000. Currently, $53,800 has not stabilized, and the range of fluctuations is between $53,800 and $55,500. After the breakthrough, the rebound at the 3- and 4-hour levels will be seen, with the targets being $57,000 and $58,300 respectively. Therefore, the maximum pressure from today to tomorrow is between $57,150 and $58,300. Arriving here means that $56,000 has initially stabilized, and you can consider taking profit at $56,666.

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The daily and above large-scale indicators cannot be repaired in the short term, and the medium and long-term outlook is bearish. The next major support level is around US$43,300, which is expected to be reached before October, and then a unilateral upward trend will begin.

Ethereum (ETH): Short-term support is at $2,222, the 2-hour level rebound has been completed ($2,518), and the 3- and 4-hour level rebound targets are $2,612 and $2,728 respectively. This is the biggest short-term pressure, and it needs to stand firm at $2,450 to break through to a higher position.

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Yesterday, the price fell directly to the middle track of the monthly line. The daily and weekly indicators cannot be repaired in the short term, and the medium and long-term outlook is bearish. The weekly MACD fast line is about to touch the zero axis to trigger a further decline mechanism. Therefore, the breakthrough of short-term pressure is suppressed by the daily and weekly levels, and it is not easy to break through and stand firm.

It is expected that before October, Ethereum will synchronize with Bitcoin and further pull back to the middle axis position of the lower and middle tracks of the monthly line: US$1,492, and then start a unilateral upward trend.

Let's take a look at the situation of counterfeiting in the past two days

Taking 21:00 on August 4 as the benchmark, its opening price as the starting point of the decline, the period when Bitcoin fell to US$49,000 at 15:00 on August 5 as the statistical end point, and the lowest price during the period as the end point of the decline, the data is shown in the table below.

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It can be seen that the concepts with the largest declines include LST, AI and Meme, which are:

  • LST：PENDLE、SSV、LDO

  • AI: TAO, NFP, RENDER, (AI that does not fully fit this concept)

  • Meme: WIF, PEPE, (SATS which doesn't quite fit the concept)

In the anti-fall sector, previous articles only counted the top ten, resulting in Sun Yuchen series tokens being on the list every time. This time, it has been expanded to 20, but the tokens on the list are basically small-cap tokens, which are of little reference value.

The counterattack horn sounded

Taking 21:00 on August 5 as the benchmark, its opening price as the starting point of the increase, 9:00 on August 6 as the statistical end point, and the highest price during the period as the end point of the increase, the data are shown in the following table.

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In this rebound list, no matter the one with the most rebound or the least rebound, there is no obvious concept sector. However, there are several tokens that appear on the decline list, which shows that such tokens have strong elasticity. If there is another round of decline, it is worth paying attention to. These tokens are:

  • SATS (Bitcoin concept, some Meme attributes)

  • TAO（AI）

  • GNO(DeFi)

  • RIF (Bitcoin Concept)

  • RENDER（AI）

  • PEPE (Meme)

  • PENDLE (LST, LRT concept)

If you really can't control yourself and want to buy at the bottom, you can first pay attention to Ton and BGB. Ton is a strong support that was pulled down hard, while the BGB dealer will not let it fall below 1. Those who understand will understand.

That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.

#加密市场反弹 #BTC走势分析 #ETH投资