In the past two days, Bitcoin has continued to fall under the shadow of the Mentougou compensation and some government sales and cash-out news. Today, it fell to a low of 56,771, a recent low.
Ethereum was hit by the negative impact of the failure of the ETF to go online on July 2, and its trend weakened and it fell to 3088. The Ethereum ecosystem currencies followed suit... After reviewing the market, we did not lock in the profits in time when the chips we covered made money. In the end, we suffered losses due to our over-optimism about Ethereum ETH. Drawing on the experience of the Bitcoin ETF, we had too much hope that Ethereum would remain strong. With frequent negative news and repeated differentiation in the market, the copycat could not withstand Ethereum, and Ethereum could not withstand Bitcoin, and the profit turned into loss... Differentiation is a very important feature of this round of market, and it is also the root cause of why this round of market is so difficult to play...
It is relatively easy to judge the position by looking at the big cake, but it is difficult to judge to what extent the altcoins will diverge. The signal distortion caused by the lack of liquidity is flooding the entire market! So there is a situation where everyone is talking about the bull market, but long-term players are basically buried. This is the cruel reality at present!
Back to the market, the position of 56771 is temporarily safe, and the bulls will organize a counterattack around here. Today's decline has already included the expectation of negative non-agricultural data to be announced soon. Therefore, as long as the data does not exceed expectations, the market will have a rebound demand. The upper pressure is around 61,000, and Ethereum is around 3,300. The good thing is that when Ethereum fell today, some altcoins were no longer following closely, and there were signs that they could not fall any further. The room for the altcoins themselves to rebound is expected to be larger!
Regarding the prediction of the next market, there are two important positions that need to be paid attention to. The upward position is 58400. Whether the daily closing can stand at this position determines whether the rebound will continue. The downward position is 56500. If it breaks through here and cannot be recovered, there is a high probability that there will be a bigger decline.
We are still relatively optimistic. The rebound will be the main focus first. After the rebound, it is recommended to reduce some positions. The market in the later period will be extremely complicated, with downward adjustment as the main tone, accompanied by ups and downs, long and short double kills, which is very unfriendly to investors. Not only is it easy to lose money, but it is also easy to destroy the Tao heart! Instead of being extremely uncomfortable, it is better to withdraw first and wait for the adjustment to be in place before entering the game. This time node will appear between August and September. The position is not so far away at present, but it is possible that the beginning of May cannot hold up, so everyone should be mentally prepared!
