Bitcoin also fell below $64,000 today, with a single-day drop of more than 3%. It fell to as low as $63,771 at one point, hitting a new low since July 19.
The decline may be due not only to the plunge in technology stocks, but also to the fact that more Mt.Gox creditors received BTC compensation and began to sell.
Part of the decline of the market came from the compensation transfer operation of the Mentougou address , and the other part was the collective plunge of U.S. stocks last night. Bitcoin has followed the U.S. stocks. $BTC is continuing to fall back to test the support of the 20-day EMA near $63,800. We will pay close attention to this position, which is related to whether the market can fall further back to $60,000 in the future.
ETH has been falling a lot. It turns out that the market is all about speculation on expectations. Good news will turn out to be bad news. Pay attention to the two supports of $3,100 and $2,900. It is expected that the daily line will stop falling at these two positions.
The current market trend has been going up and down for half a year since the high of 73,000. So far, there has not been a decent correction, which is not like the crypto and does not conform to market rules. In the past, the bull market was a round of rise, followed by a 50% correction, and then the bull market started without looking back.
In my opinion, a short-term wash is inevitable, and this is how the good news landed. After Bitcoin passed the ETF on January 10, it fell and washed for 12 days, and then the ETF market started. The crypto market has been washing for three consecutive months, and the market sentiment is low. It is not realistic to wash for a few more months. I think this wash, compared with the number of days after Bitcoin passed the ETF, should be basically the same, and I still maintain the view of short-term wash. If this bull market is really over, then you should quit the circle decisively. There is no point in staying any longer. Therefore, since the dog dealers in this round of bull market have already played like this, then play to the end! See who can survive to the end. At this stage, it is more suitable to observe which high-quality cottages should be focused on and consider buying in batches at the right time. Look forward to the end of this month and wait for the market to take off in August.
How low will it fall before buy the dips?
1. The correction predicted two days ago also appeared as expected. This correction may be the last night before the big surge.
2.BTC callback range is 60000-63500, we will see where it falls to.
3. If ETH can fall back to around 2850, you can buy it directly on the left side
The U.S. stock market fell, Mt. Gox transferred Bitcoin, and Grayscale sold Ethereum. There will definitely be opportunities for gold mining in the near future. Prepare your bullets and be ready to shoot at any time!
In addition to BTC, what other coins are worth paying attention to in this round?
It is not difficult to choose a coin, but even if you choose the right one, you may not make a lot of money. In fact, it is a problem of the trading system. The essence is what you want to make.
1. The coins whose consensus has been consolidated: BTC, ETH, SOL, TON are making big waves!
2. Copycat leaders pepe, wif, rndr, ondo (price is the biggest fundamental, unlike the previous round which was value. See if the K-line is strong enough)
3. Earn money from emotions (high returns and high risks), big capital drives big trends, brc20, ton, solana blink. Whether the market can continue depends on whether capital exerts its strength. It will be difficult if they don't pay attention.
4. Big names shill, Musk Solarana, etc.
Why do people think that the market is good but it is difficult to make money? Because you need the right time, right place and right people to get the big large MC memecoin. It takes 3 days to get 1b. If it takes a long time, you may not get it for long. Most people want 100 times, but it is quite difficult. If it is 2 10*10, it will be easier.
Judging from the current status, SOL will remain strong for a while. I wonder whether SOL’s ETF will be hyped after the BTC and ETH ETFs are approved. This round, we cannot ignore the powerful capital behind SOL!
There is a good buying opportunity now. Lao Chen is optimistic about the following stocks: SOL, PEPE, RAY, BOME
➢$PEPE
pepeThese two breakthroughs are similar. If you can step back on the trend line, remember to make a layout. pepe I judge that there will be at least one or two big waves!
➢$RAY
RAY is also a very good target. It only has spot products but no contracts. Generally speaking, this type of coin is easier to be pulled up. You can also look for coins on Binance that only have spot products but no contracts and pay more attention to them.
Secondly, RAY itself is also a DEX on Solana. Recently, the meme large MC memecoin on Solana has frequently exploded, and the usage rate of these DEXs has increased, which is also a big benefit for its tokens.
➢$BOME
BOME occupies a leading position in the SOL ecosystem and prospers with the rise of SOL. The recent market maker's wash is about to end, indicating that BOME is about to explode. In the bull market, BOME is expected to achieve huge growth, with an increase of 10-100 times.
Lao Chen wishes everyone to become rich soon!
If you still have any questions and want to ask me, please add my V:mcty577 for communication!
