Yesterday's surge in the market, as well as the rise in copycat stocks, were truly impressive. After all, it was normal for the market to rebound after such a large correction in the previous period. Next, we need to pay attention to whether the market can hold firm at the 6w level, and this will determine whether the market can continue to move towards 65w next week.
At the same time, I also read the news. Except for Russia signing the legalization of mining, the rest are just some routine news. However, whether there will be an interest rate cut in September is the news that deserves special attention.
A simple summary at the macro level is: the US is no longer in recession! The Bank of Japan is no longer raising interest rates! Iran is no longer retaliating against Israel! In an instant, the world is peaceful and tranquil again, and the global financial market is rising again!
Judging from the current trend, the overall market will be in the range of 60000-63000, and Ethereum will also follow suit, and will be in the range of 2600-2800 overall, and Sol will be in the range of 155-170 overall!
BTC returns to 6w2, don't rush to chase it, be more calm:
There have been countless bullish reactions and countless slaps in the face. It is better to wait patiently for the trend to emerge before taking action.
The trend of Bitcoin has deviated from the previous trend that everyone is familiar with. The market crash/pull-up are very rapid. It did not pull back where it should, and it did not fluctuate sideways where it should.
When we deviate from the cognitive framework again and again, we must remain calm. When doing transactions, we say that we must trust our own eyes, not the images in our minds.
Whether it was the peak that started from 54,000 on July 8, or the sudden increase yesterday, BTC did not bring obvious wealth-creating effect to the market.
The altcoins are still sluggish. Yesterday, the gains of some of them were even lower than those of BTC. Without the locomotive effect, it is hard to say that there is a "bull rally". Look at the facts calmly and objectively. Every time BTC surges/slumps on the news, it seems that nothing is left except a bunch of liquidation data.
Really cool ones can only watch the following two scenes:
The BTC broke through 70,000, and then set a new high, completely out of the structural market - the BTC can lead the crazy performance of the copycat and return to the logic we are familiar with before. In addition, blindly chasing long/ buy the dips will result in being buried. Try again and again, and make mistakes again and again.
A real bull market doesn't need this little bit of growth. Repeatedly being killed and trapped will seriously affect your mentality. It's better to wait and see how the BTC moves.
Regarding the altcoins, there are also some hype-themed tokens this year. The price fluctuations of these tokens are large, which brings great volatility risks to investors, such as WLD, FET, RNDR of AI concepts; TIA, INJ of modular concepts.
Such concepts and themes are basically hyped up and run away, don't linger. By analyzing the performance of the top 50 tokens this year, in addition to being affected by the sharp correction of the overall market, the poor performance of tokens usually has reasons that cannot be ignored, such as large-scale unlocking, inflation, poor ecological performance, and weak practical functions of tokens. The weak performance of tokens caused by these attributes may continue for a long time. Even Ethereum, which ranks second, has a "sluggish" price due to poor ecological performance and continued inflation, not to mention other projects.
The most frustrating thing about the crypto market is that there has been no large-scale application scenario. Even Defi and NFT, which were expected in the last bull market, have not performed well in this cycle, especially NFT, which has even "returned to zero". Only the "payment and transfer" scenario has performed well, but this scenario is mostly stablecoins.
For a long time to come, projects with the labels of "continuous unlocking, inflation, and poor ecology" should be participated in with caution, especially those high-market-valued new coins that are constantly unlocked, no matter how many concepts they have or how attractive the publicity is. Before a new ecological narrative appears in the market, funds will most likely continue to hold on to SOL ecological projects and repeatedly hype them up. The reason is: market funds are limited, and they can only hold on to strong sectors. Weak projects are wrong at a glance.
Trends are irreversible. Always remember that no matter how big the short-term negative factors are, they cannot affect the direction and development of the trend.
After this year's bumpy new market journey, we should be aware that the market is no longer the same as before. In our subsequent investments, we should focus on users and real data rather than relying on inflated volumes.
At present, BTC ETH SOL TON are the only ones that have real data and can be held for a long time. Apart from the first time, the others need to be observed.
The trend of the market exceeded expectations. I originally thought that the V-reversal would take until the end of August, but I didn't expect it to continue to gain momentum last night and has basically done a V-reversal. This is the power of trends. Before every bull market breaks out, there will be a thrilling panic sell-off.
Don't worry too much about the operation level, just choose the target and buy it. Starting from August, the market will be hyped until the end of the year. After the correction, there will be another big wave of market, so everyone should take action actively.
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