From the situation in the past two days, the difficulty of further decline in the short term is gradually rising. Whenever the technical short-term support is about to break, the market will turn sharply up after the US stock market closes and pull back to the front high ground. Objectively, I think it is only a matter of time before the trend pressure level of 67,000 points is further tested.
SHIB has once again been on the growth list of a certain security after a year with a growth of more than 30% in two days. In conjunction with this, doge also had two small-cycle daily long positive lines. In terms of volume, doge is slightly stronger than shib, which is why doge was listed in the community morning report a few days ago. Those who paid attention to it in advance should have made a small profit.
In the past week, whether it is the reminder at the bottom of the official account or the value push of the morning newspaper, the public chain has been placed in the first tier. Regarding the first stage of the market trend rebound, the L1 sector must be the first round of trend, and then the major value rotations. Near and Avax have also fluctuated by more than 20 points in the past two days. This sequence belongs to the top of our industry, and it is likely that the trend will continue for a few days.
According to the data, Bitcoin spot ETF had a net inflow of 365 million US dollars yesterday, while Ethereum spot ETF had a net outflow of 670,000 US dollars. In terms of volume, the over-the-counter data continues to support the upward trend of the big pie. It is expected that even if this wave of bulls cannot achieve a reversal, it will maintain a relatively strong high range fluctuation. Under the linkage, the cottage will provide many good opportunities.
The core PCE price index for the second quarter of the United States was announced at 2.8%, which was consistent with the previous value. The number of initial jobless claims for the week announced yesterday was 218,000, which was lower than the expected value. The previous value of 219,000 was revised to 222,000. The release of the two data continued to reduce the market's expectations of economic recession and to some extent increased the basis for another 50 basis point interest rate cut in November. The fundamentals of the market continued to improve.
After a series of positive news from related meetings, the domestic A-share market finally reversed its four-month downward trend and finally stabilized at the 3,000-point mark. The video account also explained the relevant logic in detail. At least from the perspective of market sentiment, after the Fed cut interest rates, the domestic floodgates will also begin to open. This round of real money is likely to pull the market up.
The external environment is generally improving. Finally, I would like to remind you that the reversal of the big cake is still waiting for the final signal to be confirmed. Take the chips in this round with a rebound mentality. The engine of the bull market is on the way to start, please remain patient and continue to maintain your passion.
BTC: The high point of Bitcoin’s daily rebound is expected to remain unchanged, still around 67,000 points, and the four-hour or daily line will continue to move upward to test the breakthrough. If it can break through directly after testing the trend pressure level, all bulls in the market will be activated to the greatest extent. If it fails to stand firm after multiple surges, it will be the starting point of a new round of adjustments. Please pay attention patiently. In terms of operation, you can reduce your position appropriately near this trend pressure level, and wait for a low point or a definite breakthrough in the later stage before holding conservatively.
ETH: The exchange rate and growth of Ethereum continue to pick up, and the trend is linked to the strengthening of Bitcoin, but the linkage is currently severely stagnant. The short-term bullish pressure is within the range of 100 points around 3000 points, and it is expected to be temporarily blocked. The intraday support below is 2610 points.
COMP: With small attention, the daily trend is still there, it has rebounded 25%, and it remains strong in the four-hour period, so there is still room.
SATS: At the bottom of the daily trend, if we stabilize this position, there will be another small daily market trend. The increase in volume will bring about an upward adjustment in the market, which is expected to continue for some time.
In the short term, the focus is on the old blockchain sector (such as AVAX, NEAR, etc., which have rebounded by more than 20%, and there is still room for improvement) and the AI sector (Pixel and AI, which were severely oversold in the early stage). At present, both sectors have experienced some independent upward trends. The meme sector's doge was reminded in the group's early report on Monday that it was close to 30%.
The Fear and Greed Index was 61 during the day.
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