$BTC rebounded to around 63400 last night. The current price is back above 66000 again. Bitcoin is in the range of 64000-68000 USD . If it leaves this range, it will develop a new trend.
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 future market. 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. Be patient and wait. I will continue to pay attention to the support of $64,000, but if it still does not fall below after the end of this week, I will turn to long next week.
The market expects that the Fed will cut interest rates in September, which may be part of the reason why the offshore RMB rose 500 points yesterday. There have been a lot of bad news recently, but there are also American funds entering the market from ETFs. More turnover is a good thing, so I still think that the market will still be dominated by fluctuations. After mid-August, the market will digest these bad news. The so-called bad news is good news. Don't be fooled by your leeks. In addition, brothers without technology should try to operate short-term as little as possible. When the bottom is established, there is still a chance to adjust the position, which is not a loss. It is for faster recovery or profit.
Why did ETH fall so sharply?
The Ethereum Foundation wallet, which had been silent for seven years, suddenly "woken up" and transferred out nearly $300 million worth of Ethereum at one time. The truth behind this is intriguing!
This wallet, which is closely associated with the Ethereum Foundation, seemed to have been forgotten in the corner of the digital world for seven years. Until July 25 this year, it suddenly became active and transferred about 92,500 Ethereums at one time, with a value of up to 290 million US dollars!
Ethereum Foundation transferred 92,000 ETH to its address in 2017, ETH ETF was listed, and Vitalik hit himself
Personally, I think there will be a small rebound in the market today and ETH will at least touch the price around 3240. The market will be even more sluggish tomorrow and the day after tomorrow, but there will be some individual currencies with strong gains. The best buying position for ETH is still around 3053.
In this round of the market, the MEME and SOL series are still worth buy the dips at the bottom of this wave of decline. The desire to buy meme coins is the strongest. ORDI, NOT, PEPE and other coins have performed particularly well in this round of oversold rebound, especially SATS, which rebounded most violently, and the same is true for MEW, which has recently risen violently. Next, BN will definitely continue to create a money-making effect and focus on the layout of meme coins. After all, there are a large number of investors in the market, which is inseparable from the situation of strong control.
Chen's favorite stocks: SATS, PEPE, WIF, PEOPLE
➢$SATS
SATS has hit a new high in this round of rebound. It announced that it will launch the second-layer network in September, which undoubtedly injected new vitality and imagination into the market. The current market value is close to ordi, and the trend is still strong. At present, the daily level has a trend of continuing to rush up to break through the previous high of 3620. Of course, it will not be like the demon coin, which violently pulls up 100% in a single day. After pulling up, it will still fluctuate-step back-pull up again, so you must step on the rhythm accurately. The big pressure is around 3800, and the support is 2500.
➢$PEPE
PEPE Lao Chen said yesterday that the trend is relatively weak, but it has not changed. Looking at the acceleration in the future, the small level will soon start to stop the decline and rebound. Those who want to hold it can continue to hold it.
➢$WIF
Memecoin, the flagship of the SOL ecosystem, is well-liked by Wall Street. WIF stands out with its unique design and strong community support. In the face of external criticism, WIF holders are confident and expect its value to soar. The market predicts that WIF will hit a high of $10 and is expected to compete with PEPE in 2024. WIF is actively traded, with an average daily turnover rate of more than 15%, outperforming low-circulation tokens.
➢$PEOPLE
PEOPLE has a good name, with profound meaning and is easy to spread. It has a unique narrative gene and a constitutional auction background. Whoever becomes president needs to swear an oath to the Constitution. Republican Vice President Vance has bought and held it. The Democratic Party Harris's x account signature has "Fighting for the People". It has been listed on Binance, has ample liquidity, and is currently one of the meme coins with the lowest market value. It has fallen sharply from its previous highs, and the risks have been fully released. It was the first to rebound in today's market decline. Perhaps the main funds have started a new round of speculation, and the price-performance ratio is very good.
Lao Chen wishes everyone to become rich soon!
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