Market analysis and recommendations on July 30, 2024
07-30 10:24 Read 13
Good morning, brothers, Tuesday, July 30th!
1. Review of yesterday's market
Yesterday's market conditions gave the market a lot of confidence, including Brother Yu, who thought it might break through in one fell swoop, but ultimately the high pressure level of 70,000 could not be sustained. After touching 70,000, the market entered a correction phase. Brother Yu also said in the community at nine o'clock last night that as the month draws to a close, there is a risk of a spike, and it turned out to be true.
Yesterday, the opening price of the big cake was 68249, the highest price was 70079, the lowest price was 66428, and the closing price was 66784, with an increase of -2.15% and an amplitude of 5.35%.
Yesterday, the opening price of the second cake was 3270, the highest price was 3396, the lowest price was 3258, and the closing price was 3317, an increase of 1.45% and an amplitude of 4.24%.
Yesterday, the intraday fluctuations of Big Cake and Second Cake were both around 5%.
2. Today's market analysis
Generally speaking, the market rebounds after a drop in the morning. Of course, we are talking about the intraday market here. In fact, the current market is normal. It is near the end of the month, and the pressure will increase as it goes up. This high pressure range must be fully traded before it can stand firm. The market has entered a correction after rising. The market will continue to fluctuate in the next two days. We will see where the monthly line closes at that time.
Intraday pressure and support analysis
BTC pressure level 66800-67500-68800
Support level 66000-65200-64500
The pressure level of ETH is 3350-3420-3500
Support level 3300-3240-3180
As of now, the market is expected to have a small rebound, but it is not recommended to open an order under the current market conditions. Try to wait and see. The trend direction remains unchanged, and the overall trend in August is still bullish.
3. Spot sector analysis and recommendations
It is impossible for a single pullback to affect the overall environmental trend. Although many big Vs are bearish on the market, Brother Yu still believes that August and September will be the months when there will be a copycat market. I also notified the community last night that if there is a big drop, just cover your position!
Those who follow BOME in the spot market should make a profit of about 25%. This meme coin is currently the strongest in the entire meme sector, and the goal is still 3x-5x!
The GFT that was promoted by the 499 group yesterday can continue to be held and is currently profitable.
These two days are a good opportunity to purchase stocks. Just grab the leading currencies. ORDI is currently around 37u and is a good target!
