8.8 Days of Big Mochi Ota Analysis
Speaking of bull market characteristics, in the past, BTC and ETH both broke through the previous bull market highs, marking the start of a big bull market. In addition, the daily K-line prices of Bitcoin and Ethereum deviated from the 60-day moving average by more than 30% and the moving average continued to rise.
However, this round of bull market is atypical, and only those who have a long-term vision and focus on the big cycle can win. In the short term, the market is full of variables.
The trend of interest rate hikes for the Japanese yen has been determined, while the trend of interest rate cuts for the US dollar is gradually becoming a reality. Japanese, Korean and US stocks may experience large fluctuations, so we need to be vigilant.
In terms of market conditions
yesterday
The lowest point of Bitcoin is 54519, the highest point is 57699, the fluctuation is 3180, and the amplitude is 5.5%;
The lowest point of Yitai is 2307, the highest point is 2549, the fluctuation is 242, and the amplitude is 9.5%.
today
Although Dabing rebounded strongly, the rebound of Yitai and other copycats was weaker.
Currently, the bitcoin price is 57450, the first resistance above is 59000, the strong resistance is 62000, and the short-term support is 56500.
The price of Yitai is currently 2446, and the K-line is weak. The next second exploration may reach 1950 or even lower, with strong resistance near 2680.
Binance launches Toincoin, trading starts tonight, TON jumps 9% to break through $6
There have been many developments in the cryptocurrency circle recently. Binance announced the launch of Toincoin (TON) at about 13:40 on August 8. As soon as the news came out, the price of TON coin quickly jumped by 9%, breaking through 6 US dollars.
At 18:00 Beijing time on August 8, Binance will start trading of TON, opening spot trading pairs such as TON/BTC, TON/USDT, TON/FDUSD and TON/TRY.
Users can deposit TON now to prepare for trading, and withdrawals will be enabled at 10:00 (UTC) on August 9, with a listing fee of 0 BNB.
Let’s look at recent market hot events
The Fed's "megaphone" said that the threshold for emergency rate cuts is high, and whether to cut rates by 50 basis points will be debated in September; the White House said it does not believe that Iran or Hezbollah's response to Israel has begun;
The GDPNow model predicts that the US GDP growth rate in the third quarter will be 2.9%; Shinichi Uchida, Deputy Governor of the Bank of Japan, said that the central bank will not raise the policy interest rate if the financial market is unstable.
At present, the crisis or negative factors have been basically eliminated, but the market still needs time to recover.
Operational aspects
In terms of operation, it is a pity that some people cut their losses at the bottom. We should be prepared for both situations, and consider both the second exploration and V-reversal strategies.
The amplitude of Bitcoin is large. As long as it is the position I released, the long and short positions are extremely stable. I will update the script.
There is no big change overall, some positions have been used, and real-time orders are corrected.
Statistics yesterday:
Yesterday I said to short around 57,500, and the highest price would be around 3,000 US dollars.
At the same time, the short-term bullish trend of 55,400 mentioned yesterday also rebounded to the range of 500-800 US dollars in the early morning.
Yesterday I said it was mostly around 54,400, with an error of 100 US dollars. If it goes up, it will reach the 3,000 US dollar range again.
Updated today.
Many steps:
544, 538, 526, stop loss at $353.
Ladder space:
589, 596, 611, stop loss at $353.
Real-time orders are short long near 565 and 556, and short short near 578. Only one of the three can be done, and the stop loss is 329 US dollars.
We open orders and gradually close the original part as soon as possible, leaving a 1/4 stop loss pattern.
Finally, for Ethereum, WIF, SATs, SOL, Dogecoin...you can refer to Bitcoin for opening orders.
Today, BTC is 5700, ETH is 2500, and SOL is 152. SOL is profitable, and the currencies in its ecosystem are rising well. SATS seems to be moving, and some spot is buried. The position is around 28-30; ZEC is stable, and the market may not collapse or have a chance to move out from the bottom; NOT rebounded with Bitcoin, and the price soared by 30%, showing a potential double bottom pattern, suggesting an upward trend.
In short, the market is confusing and we need to look at it rationally.
