[Analysis of the market trend on July 19, 2024]
Bull market is coming?
I haven't posted anything in the past two days because I went out to play. We still have long orders in the spot and the market. Bitcoin will still stand at the 65,000 weekly line that I mentioned before. If the entity can close at this place, a new round of bull market will come (of course, unless there is no negative news). From a technical perspective, if Bitcoin can reach this point, it will most likely create a new round of bull market prices.
Current Bitcoin trend?
Bitcoin has a long-short mindset in the current price range, but from the perspective of the market trend, the strength of the long side is stronger than that of the short side. You can arrange two long orders within the price range I screenshoted. The target position can be seen: 65871.8-70673.9. The first target position is expected to be reached, but the second target position is difficult to reach in the short term, unless there is some news stimulus to pull it up.
Spot quilt? How to solve it
If the weekly closing entity of Bitcoin can stand at 65,000, then everyone can rest assured to arrange long-term long orders. At that time, basically all small-variety altcoins will pull up, but there are also some varieties that have been lying down after being smashed. If you encounter such varieties, you will be unlucky. Or you need to analyze whether the altcoins you bought are junk varieties. If there are dealers in them, you can click on my homepage to find me and analyze them for you. There are dealers in some varieties. If the market pulls up those strong varieties, it is the dealer who pulls up straight.
(Try not to do altcoins if you don’t understand the market)
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