7/18 BTC market analysis:

A small "V" shape in the early morning, after ten days, the market touched around 29,500 again, and the small fluctuations still revealed the "danger"!

Hi, ladies and gentlemen, welcome to Uncle Cat's Coin Talk.

As of the time of posting, the price of BTC is around 30080, and it is currently hovering around the 30000 mark. Since the market fell to around 30000 last Saturday, the market has been in the 30000-30400 range, and it has dropped to around 30000 several times and rebounded again. Finally, in the early morning, it dropped to around 29600 again and then quickly rebounded to around 30000.

Observing the trading volume, the falling Yin lines basically fell in the form of 40 million, 80 million, and 120 million increments, and the decline caused by the increments increased, and at the same time, a long tail needle was left at the closing time. It is obvious that the buying power in the trading volume is relatively large, and the two sides are constantly playing games. And it can be seen that the downward resistance below 30,000 is the greatest.

On the contrary, in the process of rising, it gradually rose in a decreasing form of 60 million, 20 million, and 50 million. Basically, when it touched around 30,000, the positive line was longer and the trading volume did not increase much, indicating that the upward trend was still relatively strong.

Judging from the trading volume alone, the downward resistance is large, while the upward support is also large. However, this argument is only for the vicinity of 30,000 points. Compared with yesterday's trading volume, the pressure above 30,400 is also large. Currently, BTC is once again suppressed in a small range of 400 points.

According to yesterday's market observations, the trading volume throughout the day was carried out with a low and small fluctuation. From 6 pm, the volume gradually increased, but the real long-short game was still in the early morning. From 11 pm, the addresses of various whales were frequently changing, targeting the main leaders of the market and mainstream cottages. At the beginning, a large amount of spot was transferred to the exchange, followed by a large amount of USDC transferred to related exchanges. It should be noted here that most of the bottom-fishing was done by USDC, which indicates that this is the bottom-fishing of American whales. As for the shipment party, we don't know yet.

In fact, simply looking at the market and trading volume, the market shorts are obviously blocked and the bulls are also under certain pressure. The market fluctuating in a small range shows a "dangerous" signal.

Let's take stock of the current bearish factors. The recent MUITI project went bankrupt, the project owner was arrested, and the project was stopped, involving billions of dollars in funds, which may intensify the regulation of cryptocurrencies in China. The Fed's interest rate hike, although the negative impact is not large, may be the last straw that breaks the camel's back. Regarding the Ripple case, the US SEC has been clamoring for an appeal, and there is a hidden risk that has been mentioned in recent days. These negative news alone may cause a large fluctuation in the market.

As for the positive factors, in addition to the enthusiasm of the copycat market brought about by the Ripple case and the fact that the application process of BlackRock ETF is gradually progressing, these are the only two positive factors I can think of.

It should be noted that the fomo sentiment of Korean exchanges has been high recently, and has been driving various copycat projects, such as BCH, COMP, 1INCH, etc. There are market makers behind them who are driving the market sentiment. Do you think they are just harvesting Koreans? You are wrong. If you observe carefully, you will find that many bloggers are pushing the anti-courage of Korean exchanges. Taste it yourself!

Trend Direction:

Currently, 30,000 is still a small-level support. The recent good performance of U.S. stocks may lead to a small rebound in sentiment, and then the bulls and bears will play against each other in the early morning, and the energy for shorting will most likely continue.

Trading straregy:

At night, adjust the order point according to the transaction volume and the current quotation, and place an order at a high level. The specific order point depends on the trading enthusiasm at that time. If you want to build a position aggressively, you can build a small position near the market price and cover the position when it rebounds. As for snacking on a rebound, it is not recommended for those who are unable to watch the market.

Spot:

At the current stage, spot trading needs to be cautious. You can choose to anchor a good currency and wait for the market to stabilize before building a position. Recently, affected by Ripple, many altcoins have risen significantly, and their prices are relatively strong. You can wait for a decline to give you a chance to build a position! #BTC #荣耀时刻