The market is picking up and rising! BTC has reached the $60,000 mark again. What should we do next?
Let’s take a look at the on-chain data first
(1) Stablecoins continue to flow into exchanges, and a small amount has flowed in from yesterday to today
(2) The inflow of BTC into exchanges has increased by a small amount
The strategy continues to summarize 3 points:
1. Do not short positions. Now the prices of many copycats are very low, so you need to prepare stocks
2. If BTC falls to $55,000, don’t panic, but hold on to it and don’t sell at the bottom
3. Don’t chase the rebound, wait at least 1 week
Focus on these two major events this week:
US August PMI at 21:45 on Thursday
Powell’s speech at 22:00 on Friday
The market may still pull back.
Negative factors still exist: BTC selling pressure in Mentougou continues, and Iran and Israel continue to clash.
If BTC survives these two current negative factors, it is likely to break the previous high this time.
Because of the wash from March to September, the cost price of most funds is between $60,000 and $70,000,
Especially the funds flowing into ETFs, the cost is very high.
A large turnover was completed,
In addition, the Mentougou mine that has troubled BTC for more than 10 years has been removed.
Big funds can deploy ETH at any time, don't worry.
Now is the time to deploy, wait patiently for the market to recover,
Don't be impulsive to chase the rise, learn to buy low.
