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Bitcoin continues to fluctuate, and pessimism is shrouding the market. What should you choose to buy at the buy the dips?

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The probability of a rate cut in September has increased to 75%, and the continuous net inflow of US ETFs indicates that there has been buy the dips funds. Fed Chairman Powell attended a closed-door meeting with large banks, trying to use his influence to reach a consensus with the Fed governors. Therefore, Powell’s speech on the economic outlook on the 23rd next week is likely to release positive news, increase the probability of a rate cut, and BTC is expected to rebound after the recent downturn.

What to watch this week

At the Jackson Hole Global Central Bank Annual Meeting , Fed chief Powell's important speech may pave the way for a rate cut in September. In recent years, the Jackson Hole Conference has not only been a platform for policymakers and economists to exchange ideas, but also a weathervane for the Fed's monetary policy. The market will pay close attention to every word Powell says at the meeting. The speech may pave the way for a rate cut in September, and the specific extent of the rate cut will be determined by the August non-farm payroll report released at the end of the month. This speech will focus on "labor market stability." If he makes a more resolute statement on preventing a weak labor market, this will be seen as an important policy signal

Market Analysis

The current market rhythm is still temporarily slow, and the midnight market is still running in a narrow range. The running range has moved down, and it has remained above 59,000 without any change. The trend of Ethereum is basically the same. The low point has moved down at midnight. Due to the slow market movement, the currency price did not come close to our expectations until the morning, and our entry time was also late in terms of layout. Overall, although the market changes slowly, the trend is still worth looking forward to. For this kind of slow-moving shock market, there is no need to say more about the direction. We only need to know where the resistance is. The time for the market to fall into the repair stage has been long, and it will explode when it reaches the extreme.

From the current market, although the weekly line of the big cycle is about to close positively, it can be seen that the K-line entity is weak, with small tails left above and below, and there is not much guidance for the market trend. In the morning, the market further retreated. The key pressure level of the middle track of the daily level needs to be paid attention to. The short-term pressure retracement is a confirmation of the lower resistance and subsequent bullish momentum. The trend is still optimistic about the market's upward momentum after a small adjustment. The idea of ​​​​morning and noon is to long positions

BTC: 58400–58700, looking at 60000

Ethereum: 2620–2590, looking at 2680

What to choose for buy the dips

SYN

Synapse price continues to show bullish trend, up about 39% in the past day and 95.28% in the past 30 days. In addition, it has risen 44.80% in the past 30 days, with a year-to-date (YTD) return of about 50%.

LQT

As the market bull market recovers, the price of LQTY has risen by more than 7% in the past day, with a trading volume of $17.063 million. In addition, with a market capitalization of $60.164 million, the price of Liquity ranks 444th on the global cryptocurrency rankings

Summarize

At present, more and more people are bearish in the market, and the voices of bull market have almost disappeared. However, it is precisely under this pessimistic mood that the market may suddenly explode. The trading market is full of opportunities and risks. It is a game field that tests both technology and mentality and strategy. Technology can help us identify trends, judge bull and bear, and find the top and bottom, but it is often the mentality that really determines success or failure. Even if many people judge the direction correctly, they frequently enter and exit the market due to lack of confidence or interference from external factors, which eventually leads to losses.

Therefore, in such a market environment, a stable mentality and a clear trading strategy are particularly important. Don't blindly follow the trend, learn to analyze the market rationally and strengthen your trading beliefs. At the same time, set stop loss and take profit points to avoid making wrong decisions due to emotional fluctuations. In addition, strengthen risk management awareness, control positions, and don't bet everything on one throw. In this game, steady and cautious is not a sign of weakness, but a wise move.

Both bull and bear markets have their own value. As an investor, you must learn to be flexible and adaptable in different market environments and seize opportunities. Don't be swayed by market sentiment, stay calm and rational, and believe in your own analysis and judgment. Only in this way can you remain invincible in the ever-changing market.

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