The price of bitcoin has returned, but the money in the leeks’ accounts has decreased a lot!
After yesterday's rise, Bitcoin has returned to the price after the US stock market closed last Friday, and is currently above $59,500. It has fallen, but it seems that it has not fallen. It's just that the price of altcoins is much lower than that on Friday. The worst thing about trading is that you operate like a tiger, the price does not change, but the money in your account is gone. You are obviously working hard to make money, but in the end you are losing money.
Saturday and Sunday made the young leeks develop the inertial mindset of shorting on rebounds. The market situation from yesterday to now has taught these people who rely on regular trading a lesson. It is really difficult to accurately grasp each type of leek.
Today's market analysis: From the K-line, 1 hour and 4 hours are in an upward trend, 12 hours level is just today's upward trend, and the daily level has a stop-loss signal. The intraday pressure level is 61200 and the support level is 57200.
Let me tell you why the market is going so hard:
In the last round, the price rose too much. There should have been a big wash in January, but there was no adjustment. So the adjustment started in March. Then this adjustment should be an unprecedented big adjustment. So I said in January, "I will come in to buy the bottom when the copycat leader ORDI adjusts to 20u". It means deleveraging. Too many long contracts have been accumulated, and there must be a huge amount of liquidation. As a result, August 5th was the time with the largest liquidation in the history of the currency circle. Since it is the first in the currency circle, I think it is impossible to appear below 49,000 in the short term. In other words, the bottom is 49,000. The so-called recent second exploration should not be lower than 49,000, and the limit position is 50,000+.
Looking at the current position near the high point of the last bull market, there are still a lot of trapped shares that need to be washed out, so there must be rebound adjustments and fluctuations. This needs to take a longer time, so don’t be surprised even if it continues to fluctuate in September and October. This is a good thing. The longer the accumulation time, the stronger the subsequent outbreak will be, and the more money you will make from playing the copycat game.
As for why I choose to focus on copycats, I don’t choose public chains, blockchain games, memes, or L2, but inscriptions in the Bitcoin ecosystem. This is mainly because it is the core narrative. AI is not considered a core narrative, but only a secondary core narrative. The core of the core is the leader of inscriptions. The most important thing is that the inscription track is fully adjusted, which gives people a sense of security and confidence.
If you are interested, you can find me and fly together (not guaranteed, just for reference)
So how has market sentiment changed over time?
If we superimpose the market trend of the past six months with the Fear and Greed Index and distinguish them by color, we can see that in this red range, the same price level has a completely different F&G index; when the price first entered this range, it was displayed as extremely greedy; in the subsequent two corrections, the price was still in this range, but the sentiment gradually changed from neutral to fearful;
After the big drop on August 5, the mood turned into "extreme fear"; and now, the price is still in this range and has rebounded, but the F&G index is still at the "fear" level of 26, only 6 points away from "extreme fear"; the most interesting thing about this process is that the price has not actually changed much in the past six months, but during the large range of fluctuations, the index has gradually dropped to the level of fear.
So this once again verifies a phenomenon in the cryptocurrency market: people are not trading prices, but expectations and emotions.
Opportunity points: The secondary market obviously feels that there are more opportunities. I turned back to some secondary alts and looked for strong observations. Some friends asked if MAGA can still be bought. I can only say that I have doubled my money. Brother, I think there is still room. Just look at the 20m some time ago and now 40m. In the past two days, there is also a protocol called Vista that is very popular. From 10 pm the day before yesterday to 10 pm last night, it has increased by nearly 30 times. At present, 100 million U have entered the pool, and the Ethereum local dog market in the Pandora period has returned. For content like these on-chain, "laziness and hesitation" will easily miss the golden dog.
The most important thing for "doing things" in the cryptocurrency circle is sharp thinking, which really pays attention to layout and strategy, as well as taking advantage of the waves. Even drinking soup is great!
September is a new beginning. My personal opinion is to pay attention to the market in the second half of the month. The first half of the month will be mainly volatile. Some cottages are also at the bottom, and the decline is far from over. The trading volume is rising. Everyone should never lose confidence and hope. This circle is the closest place to wealth and fortune for ordinary people.
3 top 100 altcoins worth buying at a bargain price!
1.CRV
Curve DAO (CRV) has seen a slight increase in price recently, which could be a good opportunity for investors. Altcoins have been dealing with market volatility in line with the broader trend, but it still presents an opportunity for those who missed out on the initial dip. CRV’s price is currently in the demand zone, indicating strong buying interest at this level.
The price of CRV has surged by a massive 2.65% in the past 24 hours. This comes after the token’s inflation rate dropped to 6.35% on August 12, reigniting investor interest and setting the stage for potential growth. A lower inflation rate means fewer new CRV tokens entering the market, pushing up prices.
The reduction in token supply is expected to have a positive impact on CRV's price, which has fallen by more than 35% since launch. Typically, a reduction in supply and rising demand leads to higher prices. On August 13, rumors of a drop in inflation spurred trading activity, causing daily trading volume to jump 71.90% to $244 million, a two-month high. The surge in trading volume reflects the market's strong interest in CRV and supports its recent double-digit price gains.
If CRV continues its bullish momentum and surpasses Leader Zone B on the Ichimoku Cloud, the coin could reach $0.44 or even rise to $0.54. However, if the market turns bearish, the price could fall below the Ichimoku Cloud and possibly drop to $0.18.
2. HIM
Uniswap is a well-known brand in the cryptocurrency world, but it has struggled during this bull run. Due to the increase in activity on its DEX platform, there were high hopes that Uniswap would return to its 2024 highs. However, this did not happen as most transactions stayed on centralized exchanges. Instead of recovering to its previous $15 level, the price of Uniswap is hovering around $5.9.
Despite these challenges, and signs that whales may be hoarding, Uniswap’s market cap has stabilized at $3.551 billion, ranking 23rd. The price has stabilized, up slightly by 2.45% over the past 24 hours. However, Uniswap still has a long way to go, as it fell 9.79% last week to $5.92.
The recent growth in trading volume of over 12% suggests that the price may be about to rise by more than 10%. UNI price is showing signs of recovery and is aiming to reach the 20-day EMA mark. After weeks of poor performance, the altcoin is showing a reversal pattern and has the potential to make a comeback. The formation of a bottom around $5.20 suggests that Uniswap may have completed the retracement phase and is ready to rebound.
If demand picks up, UNI could target the 50-day SMA near $7, which could spark a reversal. However, the relative strength index (RSI) remains below 50, suggesting weak buying pressure.
3. DONE
Fetch.ai recently announced a partnership with GameSwift. The integration combines FET’s AI technology with GameSwift’s web3 gaming platform, GameSwift Launcher. It further aims to leverage unused computing power of GameSwift Launcher users to support AI development through Fetch.ai’s proxy infrastructure.
As part of this collaboration, GameSwift will join the Fetch.ai Foundation as its first web3 gaming partner, taking a leading position in the gaming space. This integration will enable users of the GameSwift Launcher to contribute their GPU power to AI projects and receive rewards. This approach has the potential to advance the development of AI while providing a novel way for users to participate in AI development.
Meanwhile, AI Super League surged 1.52% to $1.19 during intraday trading, with trading volume surging 29.51% to $227 billion, according to CoinMarketCap data.
Moreover, the coin is currently trading 37.35% above its 200-day simple moving average of $0.869975, which suggests a continuation of the bullish trend. Moreover, the coin’s 14-day RSI is at 62.81, which is neutral and suggests a possible sideways trend in the short term.
The collaboration between Fetch.ai and GameSwift offers potential for innovation in AI and web3 gaming, while financial indicators suggest that market sentiment is cautiously optimistic.
Success does not depend on luck, choice is more important than hard work
