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Wearing the crown is a must, if you want to get a hundred times the profit You can't hold on without a good mentality, countless people regret it When you see this, you will see the introduction of Zhuye
Wearing the crown is a must, if you want to get a hundred times the profit
You can't hold on without a good mentality, countless people regret it
When you see this, you will see the introduction of Zhuye
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In this case, try not to operate in the middle position, neither up nor down In the case of range oscillation, I usually go long or short at the high and low of the range, and place the position above or below the pressure level. This is a very simple trading idea suitable for novices. Of course, it is only suitable for the current small-scale oscillation market. It is necessary to pay attention to the changes in trading volume to avoid large losses caused by market reversals.
In this case, try not to operate in the middle position, neither up nor down

In the case of range oscillation, I usually go long or short at the high and low of the range, and place the position above or below the pressure level.

This is a very simple trading idea suitable for novices. Of course, it is only suitable for the current small-scale oscillation market. It is necessary to pay attention to the changes in trading volume to avoid large losses caused by market reversals.
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Last night's long orders made 70% profit and those who have gone through the pattern also stopped profit. You can see it in the previous article [点击查看](https://www.binance.com/zh-CN/square/post/13980469033769) The short orders were also successfully received in the morning. When I got up and opened it, I saw that I had made 60%. As a result, it was pulled to 64800 while brushing my teeth, but now it has returned to the cost price. At present, the big cake is fluctuating around 64400, and it is still bearish, and the target remains unchanged.
Last night's long orders made 70% profit and those who have gone through the pattern also stopped profit. You can see it in the previous article 点击查看

The short orders were also successfully received in the morning. When I got up and opened it, I saw that I had made 60%. As a result, it was pulled to 64800 while brushing my teeth, but now it has returned to the cost price.

At present, the big cake is fluctuating around 64400, and it is still bearish, and the target remains unchanged.
See original
The long order of 62800 was successfully received. If you don't want to keep it overnight, you can directly stop profit. If the pattern continues, you can set a break-even point. After all, the current market is often plugged in. Short orders can be placed. The US stock market is expected to drag the bitcoin plug up late at night. It is highly likely that it will not break 65,000, so you can rest assured to place orders. $BTC
The long order of 62800 was successfully received. If you don't want to keep it overnight, you can directly stop profit.
If the pattern continues, you can set a break-even point.
After all, the current market is often plugged in.
Short orders can be placed. The US stock market is expected to drag the bitcoin plug up late at night. It is highly likely that it will not break 65,000, so you can rest assured to place orders.
$BTC
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At present, the strong pressure of 65,000 yuan cannot be broken.
There are continuous good news, but the liquidity cannot stand at 64,000, so it cannot hit above 65,000 yuan.
Yesterday, after the price of BTC surged to 647, it could not break through the pressure of 65,000 yuan, and then fell back to 627 and continued to fluctuate.
Today's highest oscillation position was 639, but it failed to break through 64,000 yuan and retreated again.
It can be said that the price of BTC is weak now. If there is bad news at this time, it will easily fall.
It depends on whether the opening of the US stock market in the evening will pull the price of BTC above 65,000 yuan.
Evening strategy: 64500 for Bitcoin,
The first target is 63850, the second target is 62900, and the price is between 65200 and 65300. If it stabilizes at 65,000, it will go. If it does not stabilize, it can continue to be bearish.
At present, the hourly line of Bitcoin is in a downward trend. You can try to place a long order at 62800 and stop at 62200. The first target is 63500, and the second target is above 65,000.
The pressure of Ethereum is 2800, and the range trend can be synchronized with Bitcoin.

#新币挖矿已上线HMSTR #AI概念币普涨 #币安上线CATI #本周美国将公布PCE、GDP数据 #BNBChain与Telegram集成
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In every round of market rebound, meme is the first to take the lead, followed by AI, blockchain games and the like. Of course, the decline is also the worst. WiF has reached the pressure level of 2. If SOL does not break 150, the meme of SOL chain will not go up. Of course, it can also be said that the big cake has been sideways for a few days, and the more popular cottages have reached the pressure level. If the big cake does not break through, it will continue to shake, and the decline of the big cake will be a waterfall. Emotions determine the bottom, and funds determine the top. Emotions alone cannot pull it up without funds, not to mention that in the current market, the emotions in the circle are not high. #AI概念币普涨 #新币挖矿已上线HMSTR #币安上线CATI #本周美国将公布PCE、GDP数据 #加密市场反弹
In every round of market rebound, meme is the first to take the lead, followed by AI, blockchain games and the like. Of course, the decline is also the worst.
WiF has reached the pressure level of 2. If SOL does not break 150, the meme of SOL chain will not go up.
Of course, it can also be said that the big cake has been sideways for a few days, and the more popular cottages have reached the pressure level. If the big cake does not break through, it will continue to shake, and the decline of the big cake will be a waterfall.
Emotions determine the bottom, and funds determine the top. Emotions alone cannot pull it up without funds, not to mention that in the current market, the emotions in the circle are not high.
#AI概念币普涨 #新币挖矿已上线HMSTR #币安上线CATI #本周美国将公布PCE、GDP数据 #加密市场反弹
See original
$SUI eats alone, long and short eats I didn't expect the rebound to be so strong, I sold it out It's still rising, but I don't recommend chasing it, chasing up and selling down is not advisable If the daily pressure level of 1.7 is not broken, you can try to short at the previous high
$SUI eats alone, long and short eats

I didn't expect the rebound to be so strong, I sold it out

It's still rising, but I don't recommend chasing it, chasing up and selling down is not advisable

If the daily pressure level of 1.7 is not broken, you can try to short at the previous high
See original
At present, the strong pressure of 65,000 yuan cannot be broken. There are continuous good news, but the liquidity cannot stand at 64,000, so it cannot hit above 65,000 yuan. Yesterday, after the price of BTC surged to 647, it could not break through the pressure of 65,000 yuan, and then fell back to 627 and continued to fluctuate. Today's highest oscillation position was 639, but it failed to break through 64,000 yuan and retreated again. It can be said that the price of BTC is weak now. If there is bad news at this time, it will easily fall. It depends on whether the opening of the US stock market in the evening will pull the price of BTC above 65,000 yuan. Evening strategy: 64500 for Bitcoin, The first target is 63850, the second target is 62900, and the price is between 65200 and 65300. If it stabilizes at 65,000, it will go. If it does not stabilize, it can continue to be bearish. At present, the hourly line of Bitcoin is in a downward trend. You can try to place a long order at 62800 and stop at 62200. The first target is 63500, and the second target is above 65,000. The pressure of Ethereum is 2800, and the range trend can be synchronized with Bitcoin. #新币挖矿已上线HMSTR #AI概念币普涨 #币安上线CATI #本周美国将公布PCE、GDP数据 #BNBChain与Telegram集成
At present, the strong pressure of 65,000 yuan cannot be broken.
There are continuous good news, but the liquidity cannot stand at 64,000, so it cannot hit above 65,000 yuan.
Yesterday, after the price of BTC surged to 647, it could not break through the pressure of 65,000 yuan, and then fell back to 627 and continued to fluctuate.
Today's highest oscillation position was 639, but it failed to break through 64,000 yuan and retreated again.
It can be said that the price of BTC is weak now. If there is bad news at this time, it will easily fall.
It depends on whether the opening of the US stock market in the evening will pull the price of BTC above 65,000 yuan.
Evening strategy: 64500 for Bitcoin,
The first target is 63850, the second target is 62900, and the price is between 65200 and 65300. If it stabilizes at 65,000, it will go. If it does not stabilize, it can continue to be bearish.
At present, the hourly line of Bitcoin is in a downward trend. You can try to place a long order at 62800 and stop at 62200. The first target is 63500, and the second target is above 65,000.
The pressure of Ethereum is 2800, and the range trend can be synchronized with Bitcoin.

#新币挖矿已上线HMSTR #AI概念币普涨 #币安上线CATI #本周美国将公布PCE、GDP数据 #BNBChain与Telegram集成
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Is the bull market coming? Recently, good news has been released continuously, and memes have appeared on the chain 100 times, 1,000 times, and 10,000 times Recent good news includes Federal Reserve rate cuts Harris also supports Bitcoin Changpeng Zhao is also coming out From the past two days, whether it is uppercase and lowercase Neiro or DOGGO or Hippo IP or Musk's Mars, they are all full of 100 times, 1,000 times, and 10,000 times myths The whole industry is discussing memes, only memes can cause carnival and discussion. It is the sadness of the industry, but it also shows that the industry is about to undergo a huge change #新币挖矿已上线HMSTR #AI概念币普涨 #本周美国将公布PCE、GDP数据 #加密市场反弹 #哈里斯支持数字资产
Is the bull market coming?
Recently, good news has been released continuously, and memes have appeared on the chain 100 times, 1,000 times, and 10,000 times
Recent good news includes
Federal Reserve rate cuts
Harris also supports Bitcoin
Changpeng Zhao is also coming out
From the past two days, whether it is uppercase and lowercase Neiro or DOGGO or Hippo IP or Musk's Mars, they are all full of 100 times, 1,000 times, and 10,000 times myths
The whole industry is discussing memes, only memes can cause carnival and discussion. It is the sadness of the industry, but it also shows that the industry is about to undergo a huge change
#新币挖矿已上线HMSTR #AI概念币普涨 #本周美国将公布PCE、GDP数据 #加密市场反弹 #哈里斯支持数字资产
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Game World (GMD full-chain game ecological platform) The first pot burning + trading dividend mechanism in the entire network. Pot burning increases 6% per day A new platform with great potential. Currently in the whitelist pre-sale stage
Game World (GMD full-chain game ecological platform)
The first pot burning + trading dividend mechanism in the entire network.
Pot burning increases 6% per day
A new platform with great potential.
Currently in the whitelist pre-sale stage
See original
The next market trend is back to the meme market. The local dog has returned to the primary market. Recently, Musk's Mars base has reached 10,000 times. Binance is crazy about memes. If it is a little outrageous, the Mars base may be listed on Binance in a while. The wealth-making effect of local dogs is still extremely terrifying. When will those tens of U and hundreds of U fight for a hundred times or a thousand times? Of course, it is not recommended to rush to the first level without certain information resources. #AI概念币普涨
The next market trend is back to the meme market. The local dog has returned to the primary market. Recently, Musk's Mars base has reached 10,000 times. Binance is crazy about memes. If it is a little outrageous, the Mars base may be listed on Binance in a while. The wealth-making effect of local dogs is still extremely terrifying. When will those tens of U and hundreds of U fight for a hundred times or a thousand times? Of course, it is not recommended to rush to the first level without certain information resources. #AI概念币普涨
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What is the most fearful thing when playing contract trading? It is not a loss. It is a friend who uses different indicators from you and says this order is good or bad next to you, and then your thoughts are all lost. So try to follow your own indicators and have your own trading model. This order loses and Dan makes money. Once your existing trading ideas are disrupted, you are not far from liquidation. This is a kind of human nature. You should have made money on this order, but you feel something is wrong and stop loss and close the position. Then you look at the market and follow your original ideas. At this time, you think in your heart that nonsense has caused me to miss the opportunity. Another kind is that he is right and you lose money. You start to doubt yourself and ask his indicator model, and then it conflicts with your own indicator model, making it messy. In the end, there is no direction at all. Dan relies on feelings, and the final result is liquidation. I believe that 90% of people have this experience. When playing contracts, you must have your own direction indicators. Blindly following the trend will only lead to a liquidation. #DODO助力Meme发行 #本周美国将公布PCE、GDP数据 #新币挖矿已上线HMSTR #美联储宣布降息50个基点 #加密市场反弹
What is the most fearful thing when playing contract trading?
It is not a loss.
It is a friend who uses different indicators from you and says this order is good or bad next to you, and then your thoughts are all lost. So try to follow your own indicators and have your own trading model. This order loses and Dan makes money.
Once your existing trading ideas are disrupted, you are not far from liquidation.
This is a kind of human nature. You should have made money on this order, but you feel something is wrong and stop loss and close the position. Then you look at the market and follow your original ideas. At this time, you think in your heart that nonsense has caused me to miss the opportunity.
Another kind is that he is right and you lose money. You start to doubt yourself and ask his indicator model, and then it conflicts with your own indicator model, making it messy. In the end, there is no direction at all. Dan relies on feelings, and the final result is liquidation.
I believe that 90% of people have this experience.
When playing contracts, you must have your own direction indicators. Blindly following the trend will only lead to a liquidation.
#DODO助力Meme发行 #本周美国将公布PCE、GDP数据 #新币挖矿已上线HMSTR #美联储宣布降息50个基点 #加密市场反弹
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What kind of wallet can better protect your tens of billions of assets from being stolen? Read it carefully and save it well, so that you don’t have nowhere to hide your money when you are worth tens of billions.You should know that in this circle, 99% of exchanges have potential risks of running away. Among the many options, making your own cold wallet is relatively safer. Following the theft of the TP wallet and the hacking of the BK wallet, the world-renowned hardware cold wallet Ledger was also hacked. Although it was discovered in time and the user suffered little loss, all decentralized applications using the Ledger library may be affected by the attack. There are rumors that Sushi has been attacked. I have seen people say in some places before: Any hardware may have a backdoor, and it is not recommended to use hardware wallets on the market. Someone on Reddit also shared the incident of Ledger wallet assets being stolen. On the X platform, someone also exposed that there may be a backdoor in its algorithm that can steal user private keys, but it is difficult to tell whether it is true or false. For the sake of safety, I personally think that making a cold wallet is the relatively safest way at present.

What kind of wallet can better protect your tens of billions of assets from being stolen? Read it carefully and save it well, so that you don’t have nowhere to hide your money when you are worth tens of billions.

You should know that in this circle, 99% of exchanges have potential risks of running away.
Among the many options, making your own cold wallet is relatively safer.
Following the theft of the TP wallet and the hacking of the BK wallet, the world-renowned hardware cold wallet Ledger was also hacked. Although it was discovered in time and the user suffered little loss, all decentralized applications using the Ledger library may be affected by the attack. There are rumors that Sushi has been attacked. I have seen people say in some places before: Any hardware may have a backdoor, and it is not recommended to use hardware wallets on the market. Someone on Reddit also shared the incident of Ledger wallet assets being stolen. On the X platform, someone also exposed that there may be a backdoor in its algorithm that can steal user private keys, but it is difficult to tell whether it is true or false. For the sake of safety, I personally think that making a cold wallet is the relatively safest way at present.
See original
This rise is very different from the past, and it is almost a one-sided market. Isn't this a sign of the return of the bull market? But the return of the bull market does not mean that it will continue to rise every day. There will always be a pause. The weekly line is about to form a golden cross, which is expected to be formed in October, but if it rises too fast, there may be a weekly divergence, just like the peak after the weekly divergence in 21 years. From a smaller level, 65,000 is a previous high point, and it may face pressure. As long as there is no sharp correction below 60,000, the trend pattern is still good, which is a pure right-side transaction. #BTC走势预测
This rise is very different from the past, and it is almost a one-sided market. Isn't this a sign of the return of the bull market?
But the return of the bull market does not mean that it will continue to rise every day. There will always be a pause. The weekly line is about to form a golden cross, which is expected to be formed in October, but if it rises too fast, there may be a weekly divergence, just like the peak after the weekly divergence in 21 years.
From a smaller level, 65,000 is a previous high point, and it may face pressure. As long as there is no sharp correction below 60,000, the trend pattern is still good, which is a pure right-side transaction.
#BTC走势预测
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Many people are waiting for the direction of the interest rate cut to come out. After the result comes out, they think the general direction is clear, and they know whether the market will rise or fall in the future, whether it is a bull market or a bear market. But now that the interest rate has been cut, there are still many people who come to ask me that they can't understand whether the market will rise or fall, and don't know what they should do. If you can't understand the market situation, this hurdle will always be your shortcoming. If you can't get over this hurdle, no matter what period or news, you will be confused. If the market rises, you don't know when it will rise to the right level. If it falls, you don't know whether it will fall sharply in the future, and when it will stop falling. I have been reminding that the general trend is in a bull market. Expecting Bitcoin to fall sharply to 40,000 US dollars or 30,000 US dollars, and waiting for lower chips to buy the bottom, is just a wishful fantasy of some people who can't understand the market. The probability of a big drop is getting smaller and smaller. If you can't understand the market, you can only be passive or even miss the bull market. When the callback ends, a new round of market will come, but don't expect all coins to rise well. The era of all coins rising together in the currency circle and eating from the same pot has long passed. The market will be more differentiated in the future. If you can understand the market, you can study the blockchain industry in depth. Only those who understand the development of sectors and currencies can better grasp the rhythm. Just like in the past few months, Bitcoin has fallen back, and many cottages have fallen below new lows. Many people who do spot trading have seen their capital shrink by more than 50% to 80%. Those who do contracts have lost so much that they want to cry. All communities are silent, saying that the market is not good and there are no opportunities. But what is there? It's just that some people don't understand. In any industry, outsiders are losing money and insiders are making money. In May this year, some people bought the bottom, some waited for a big drop, and some made a layout, but the results so far are best known to themselves. If many people don't understand the market and the value of the currency, and are not led by professional circles, do they dare to hold a large position? Do they dare to reduce their holdings? No matter how many times you operate, how many times you make contracts, or how many coins you buy in spot, you will eventually have to return. Is the total funds in your account increasing or decreasing? The cryptocurrency market is a global financial market. Don't imagine that you can make money by coming in without knowing anything. If you have this idea, you might as well quit the market. It's better to keep the money and live a good life. It's better than losing it.
Many people are waiting for the direction of the interest rate cut to come out. After the result comes out, they think the general direction is clear, and they know whether the market will rise or fall in the future, whether it is a bull market or a bear market.
But now that the interest rate has been cut, there are still many people who come to ask me that they can't understand whether the market will rise or fall, and don't know what they should do.
If you can't understand the market situation, this hurdle will always be your shortcoming. If you can't get over this hurdle, no matter what period or news, you will be confused. If the market rises, you don't know when it will rise to the right level. If it falls, you don't know whether it will fall sharply in the future, and when it will stop falling.
I have been reminding that the general trend is in a bull market. Expecting Bitcoin to fall sharply to 40,000 US dollars or 30,000 US dollars, and waiting for lower chips to buy the bottom, is just a wishful fantasy of some people who can't understand the market.
The probability of a big drop is getting smaller and smaller. If you can't understand the market, you can only be passive or even miss the bull market.
When the callback ends, a new round of market will come, but don't expect all coins to rise well.
The era of all coins rising together in the currency circle and eating from the same pot has long passed. The market will be more differentiated in the future. If you can understand the market, you can study the blockchain industry in depth. Only those who understand the development of sectors and currencies can better grasp the rhythm.
Just like in the past few months, Bitcoin has fallen back, and many cottages have fallen below new lows. Many people who do spot trading have seen their capital shrink by more than 50% to 80%. Those who do contracts have lost so much that they want to cry. All communities are silent, saying that the market is not good and there are no opportunities.
But what is there? It's just that some people don't understand.
In any industry, outsiders are losing money and insiders are making money.
In May this year, some people bought the bottom, some waited for a big drop, and some made a layout, but the results so far are best known to themselves.
If many people don't understand the market and the value of the currency, and are not led by professional circles, do they dare to hold a large position? Do they dare to reduce their holdings?
No matter how many times you operate, how many times you make contracts, or how many coins you buy in spot, you will eventually have to return. Is the total funds in your account increasing or decreasing? The cryptocurrency market is a global financial market. Don't imagine that you can make money by coming in without knowing anything. If you have this idea, you might as well quit the market. It's better to keep the money and live a good life. It's better than losing it.
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I looked around and it seems that no one is paying attention to CZ coming out on the 29th. It seems that CZ is no longer popular in the cryptocurrency circle. When the topic of CZ comes out, bnb will definitely explode. The price of Bitcoin has returned to above 65,000. CZ is bullish for bnb. Bnb is expected to go up to 700
I looked around and it seems that no one is paying attention to CZ coming out on the 29th.
It seems that CZ is no longer popular in the cryptocurrency circle.
When the topic of CZ comes out, bnb will definitely explode.
The price of Bitcoin has returned to above 65,000. CZ is bullish for bnb. Bnb is expected to go up to 700
See original
The market is rising Big account is happy to get permanent I said many times some time ago that you can enter at any time when it is called 55,000, but many people are still waiting for 40,000. It was originally predicted that there would be a correction after the interest rate cut of 25 basis points, but the market was further pulled up by the interest rate cut of 50 basis points, and there is no possibility of correction for the time being. From the end of September to before the election, there is a high probability of shock trading, and there will be a chance to touch 68,000 in the near future. After the election, the big cake will take off. It is basically set to reach 80,000 by the end of the year Don’t be bearish in the near future, go long on dips. Go long on all corrections that are not caused by major negative news. #DODO助力Meme发行 #本周美国将公布PCE、GDP数据 #新币挖矿已上线HMSTR #币安上线CATI #加密市场反弹
The market is rising
Big account is happy to get permanent
I said many times some time ago that you can enter at any time when it is called 55,000, but many people are still waiting for 40,000. It was originally predicted that there would be a correction after the interest rate cut of 25 basis points, but the market was further pulled up by the interest rate cut of 50 basis points, and there is no possibility of correction for the time being.
From the end of September to before the election, there is a high probability of shock trading, and there will be a chance to touch 68,000 in the near future. After the election, the big cake will take off. It is basically set to reach 80,000 by the end of the year
Don’t be bearish in the near future, go long on dips. Go long on all corrections that are not caused by major negative news.
#DODO助力Meme发行 #本周美国将公布PCE、GDP数据 #新币挖矿已上线HMSTR #币安上线CATI #加密市场反弹
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Cronos (CRO)  Cronos has been trading between $0.0843 and $0.0925 and is currently testing the $0.0964 resistance level. Despite the recent challenges, the RSI is 54.72, suggesting that there is still growth potential. If CRO manages to break the $0.1046 resistance level, it could target $0.35, reflecting the potential for a massive upside of around 280% from the current highs. With strong support at $0.0800, any positive momentum could propel CRO to impressive new heights.
Cronos (CRO) 
Cronos has been trading between $0.0843 and $0.0925 and is currently testing the $0.0964 resistance level. Despite the recent challenges, the RSI is 54.72, suggesting that there is still growth potential. If CRO manages to break the $0.1046 resistance level, it could target $0.35, reflecting the potential for a massive upside of around 280% from the current highs. With strong support at $0.0800, any positive momentum could propel CRO to impressive new heights.
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Toncoin (TON): Rising with the next altcoin rallyCurrent price: $5.55Market cap: $13.8 billion Toncoin, a cryptocurrency built on the TON blockchain, is gaining interest ahead of the next wave of altcoins. Created by Telegram, TON is fast, secure, and scalable. These attributes and its association with Telegram enhance its appeal for a variety of applications. Toncoin's technological advantages and growing investor interest suggest strong earnings potential in the future.
Toncoin (TON): Rising with the next altcoin rallyCurrent price: $5.55Market cap: $13.8 billion
Toncoin, a cryptocurrency built on the TON blockchain, is gaining interest ahead of the next wave of altcoins. Created by Telegram, TON is fast, secure, and scalable. These attributes and its association with Telegram enhance its appeal for a variety of applications. Toncoin's technological advantages and growing investor interest suggest strong earnings potential in the future.
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The cryptocurrency market has once again suffered a correction, with the market capitalization falling by more than 2.2% before the end of the last trading day. More than $100 billion was withdrawn from the market, while the selling pressure remained within the range. As a result, the price of Bitcoin fell sharply below $60,000, sending shockwaves to the cryptocurrency market. The question now is whether the BTC price rise has stopped or a new divergence may occur in the coming days. One of the main reasons for the decline may be the BTC open interest, which has plummeted by 9.26% and is worth nearly $3.26 billion. In addition, the US stock market closed higher, while BlackRock recorded one of the largest BTC inflows in the past few months yesterday, with an inflow of nearly $220 million. On the other hand, the platform also recorded the largest outflow of Bitcoin from exchanges since September 2023. Now that the BTC balance on exchanges has reached its lowest level in recent months, the current pullback is just another pullback. Therefore, it is not the time to be bearish on Bitcoin, as the current pullback may end soon. The total market capitalization of the entire market capitalization is in the bearish range of the descending parallel channel. The technical picture is not in favor of the bulls, so more bearish pullbacks are likely in the coming days. The RSI is heading towards the lower support level while the MACD remains bearish as the buying volume is yet to resume even though the selling pressure has subsided. Hence, there are more chances that the market will sustain the bearish trend while the $2 trillion support level might falter temporarily.   Furthermore, the trading volumes are also declining to some extent, which suggests low participation by traders. Hence, the chances of a bullish reversal are less unless the global market capitalization remains within the range. Hence, the coming weeks are likely to be bearish for the cryptocurrency market, mostly till the end of Q3 2024.
The cryptocurrency market has once again suffered a correction, with the market capitalization falling by more than 2.2% before the end of the last trading day. More than $100 billion was withdrawn from the market, while the selling pressure remained within the range. As a result, the price of Bitcoin fell sharply below $60,000, sending shockwaves to the cryptocurrency market. The question now is whether the BTC price rise has stopped or a new divergence may occur in the coming days.

One of the main reasons for the decline may be the BTC open interest, which has plummeted by 9.26% and is worth nearly $3.26 billion. In addition, the US stock market closed higher, while BlackRock recorded one of the largest BTC inflows in the past few months yesterday, with an inflow of nearly $220 million. On the other hand, the platform also recorded the largest outflow of Bitcoin from exchanges since September 2023.

Now that the BTC balance on exchanges has reached its lowest level in recent months, the current pullback is just another pullback. Therefore, it is not the time to be bearish on Bitcoin, as the current pullback may end soon.

The total market capitalization of the entire market capitalization is in the bearish range of the descending parallel channel. The technical picture is not in favor of the bulls, so more bearish pullbacks are likely in the coming days. The RSI is heading towards the lower support level while the MACD remains bearish as the buying volume is yet to resume even though the selling pressure has subsided. Hence, there are more chances that the market will sustain the bearish trend while the $2 trillion support level might falter temporarily.  
Furthermore, the trading volumes are also declining to some extent, which suggests low participation by traders. Hence, the chances of a bullish reversal are less unless the global market capitalization remains within the range. Hence, the coming weeks are likely to be bearish for the cryptocurrency market, mostly till the end of Q3 2024.
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