The market development this week is almost consistent with the prediction in Monday's article. BTC rebounded to around 63,400 last night. The current price has returned to above 66,000
From the figure below, we can see that the area around 6.3w is a Fibonacci position and also a sideways turnover area. Combined with the previous 4h-level top divergence and the wave trend mentioned in the article on Monday, we put forward the view that there will be a callback during the week and 6.3w is a support on Monday.
The overall trend of the current market is in line with expectations. This is a 4h level correction and the repair of the top divergence indicator. At present, the repair of the indicator has entered the late stage, the top divergence has been repaired, and it is only waiting to return to the bullish state again.
The daily level is still bullish, so there is no need to become pessimistic because of the correction. At present, I am optimistic about the market in August. It may be a relatively large market, so wait patiently.
I will continue to pay attention to the support of $64,000, but if it is still not broken after the end of this week, then I will turn to long next week, and there is a high probability that we will see a BTC starting with 7!
The trend of ETH, I think this is a topic that many friends are concerned about. In fact, the trend of ETH in each bull market is quite confusing, and it usually starts relatively late, so I don’t think we need to worry too much. In addition, there is also ETF support this time. Since the listing of ETF, there has been a lot of net inflow, but the market did not buy it immediately. I don’t think it’s a big problem. At least it is regular, and it will never return to zero . Following the trend of BTC, the bull market will eventually be slightly more profitable than BTC, which means the mission has been successfully completed.
The annual Bitcoin Conference will be held at the Nashville Music Center in Nashville, Tennessee, from July 25 to 27. This "crypto" event in the country music base is expected to attract more than 20,000 participants, including US presidential candidate Trump, many global government officials, financial giants and celebrities in the technology industry.
The Bitcoin Conference is being held as scheduled. Tomorrow is the day when Trump will speak at the conference. The news has increased the uncertainty of the market outlook.
Compared with the Bitcoin conferences held in previous years, the 2024 Bitcoin Conference has several new highlights.
Conference Highlight 1: Trump delivered a keynote speech at the conference & provided roundtable photo rights
Trump will deliver a 30-minute keynote speech at 2 p.m. on the final day of the conference.
Conference Highlight 2: Musk may appear at Bitcoin 2024 Conference
Musk's private jet has landed in Tennessee. The market speculates that Musk will participate in the Bitcoin 2024 conference. There are also rumors that he will give a speech at the conference or have a dialogue with Trump.
Conference Highlight 3: Cathie Wood and Michael Saylor will attend the Cathie Wood
Representatives from the financial community, including Cathie Cathie Wood, founder and CEO of ARK Invest, who is known for being bullish on Bitcoin, will discuss the potential of Bitcoin as an investment tool.
at last
The Nashville Bitcoin 2024 conference will be an important event in the cryptocurrency community. Whether or not Trump declares Bitcoin as a strategic reserve asset for the United States, this event will have an important impact on the Bitcoin and cryptocurrency industry. We look forward to the conference and look forward to seeing more innovations and breakthroughs in the future of cryptocurrency.
In addition, yesterday another friend asked if it was possible to buy some now, since there will be a big market in the future and it is not expensive now, so why not buy it when it was more than 50,000 dollars, it was cheaper then. In the end, it still went up, which messed up the mentality. I still said that there are many cars, but not much capital. The capital is used to collect low-priced chips, not to chase the rise . The mentality is the most important thing in trading. Don't chase when it rises and sell when it falls. In short, the most violent stage of the market may be coming, and I hope everyone can grasp it.
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