Bitcoin continued to close positive on the daily chart, completing a three-day increase of more than 10%. After hitting the key weekly resistance level, it failed to break through directly. We need to pay attention to whether the price is stagnant here, and the long-term trend is still in a volatile range.

Although the medium-term trend continues the healthy upward momentum, no structural characteristics have emerged in the process. The market simply goes up the same way it went down. After a whole month of roller coaster ride, it has returned to the price at the end of last month. We continue to wait and see.

Although the short-term rise is strong enough, the lifting process is too deliberate and the price behavior is not stable. Only after structural adjustments will there be a suitable operation opportunity.

The ideas and strategies from the previous issue are still continued.

Thanks to the 50 basis point rate cut, altcoins have seen good gains recently, but we cannot be too optimistic. I believe there is still one more drop, that is, the bottom will be more solid if three needles are formed. Now it is basically two needles. So what altcoins do we need to buy in this last drop?

In addition to the AVAX, LTC, PEPE, and RATS mentioned earlier, I would like to recommend two more to you👇

1、TREES

Backed by SOL and with strong capital support, it was listed on BN in just three days and is loved by many people. It is a meme currency. Everyone knows that meme coins will fluctuate greatly and are more likely to stand out.

Think about the previous bull market, there must be meme coins that have become popular: DOGE and SHIB, which are well-known. PEPE is more popular this round, but I think the memes of the SOL ecosystem have a better chance to create myths again. BOME, WIF and SLERF must be paid attention to in the long term. I personally prefer BOME.

The market is experiencing a trend shift, with the daily 20-line starting to support the bottom, and the upper resistance at 0.008. Its market value is only 500 million, compared with the market values ​​of PEPE, SHIB and DOGE, there is still at least 6-15 times of room for growth, so BOME is very worthy of our ambush!

2、AWAY

Its predecessor, LUNA, once overcame all obstacles and had a surge that made people doubt their lives. It also once collapsed and was almost delisted. Can LUNC replicate the surge of its predecessor in this bull market? I think there is a chance that it can.

LUNC’s recent upgrade focuses on improving transaction efficiency, TFL plans to destroy all tokens, and Terraform Labs (TFL), the company behind the Terra ecosystem, announced that its Chapter 11 bankruptcy hearing will begin on September 19 after the confirmation date.

The hearing is crucial to the liquidation of Terraform Labs Ptw Ltd and Terraform Labs Limited, which will allow the company to restructure. Under the agreement signed between TFL and the SEC, TFL agreed to pay $4.5 billion in compensation and initiate liquidation proceedings.

Looking at the market in the long run, if the bottom on the right side remains firm and unbroken, it will form a huge W shape.

Okay, today’s article ends here. See you in the next issue for more exciting content. Thank you for your likes and attention!