Bitcoin continued to consolidate during the day, and the trend did not break through the key suppression above
At present, the price has adjusted back to 63000. In the short term, it retreated to 62600. The focus will be on the strength of this support. If it falls below, the price is expected to test 62000. At present, the trend has entered a period of repair and consolidation, and the short-term trend is mainly wide fluctuations.
After yesterday's big wash, the market has also begun to enter a flat correction, so the idea for the day is to find a suitable opportunity to go high and low. Secondly, please note that after this wave of diving, the market is in a state of panic and the bullish enthusiasm has dissipated by half, which is exactly what the dealer wants.
So how should we judge the future market trends?
Judging from the current consolidation range, the bulls are accumulating strength, obviously in order to break through the upper pressure range.
Therefore, in the next market trend, after the volatility ends, the probability of an increase is high!
During the bull market, we conduct technical analysis through the market and try to focus less on pressure points (except for those who cannot distinguish the transition between the bull and bear cycles in the currency circle, and those who do short-term trading and contracts, because the trading levels are different).
During the bull market, all pressure positions are designed to be broken through. At this time, we actually need to use reverse thinking and pay more attention to the process of trend reversal and pullback, and pay more attention to support positions, strong, effective, and critical support positions.
If these effective support levels are not effectively broken, it means that the bull market trend has not reversed, so there is no need to worry too much about the back and forth fluctuations, and there is no need to escape the top and cash out to lock in profits!
However, the narrative of Meme has just begun, and the copycat is recovering. Once the adjustments are in place, the copycat will explode, and the copycat season will explode with the Q4 explosion.
Many MEME coins have basically bottomed out, but they are still divided into strong and weak ones. PEPE, WIF, FLOKI, BOME, and MEME coins are recommended. These coins have also experienced several deep washes in the past six months, and the bottom is relatively clear at this stage. As long as the big cake continues to rise, these coins can be bought in batches at low prices, and I believe they will set new highs.
This means that crypto confidence will continue until the end of the year, and at this time we should pay attention to high-quality copycats at the community or other levels.
Main line: Invest in BTC and the interest rate cut-favorable sectors in October, increase positions during corrections, plan for the end-of-year market, and wait for the main upward trend!
The next two meme event hot spots are predictable.
First, Cz will be out at the end of the month! Memes about Cz.
Second, whether Trump can be elected or not will be announced in early November this year. If he is elected, related concepts such as Maga, Trump, and Fight, which have absolute community support, will definitely be hyped. They have already fallen a lot. After all, the early stage was very crazy. Such tokens are very likely to be hyped before the election results are announced. These tokens are also opportunities.
Now, it is not meaningful to speculate too much about the height of the market within the year. As mentioned before, the future definition of the macro trend, how high can the big cake or the cottage season reach? It has little relevance to what kind of results we can get in the end. For example, now, as long as the big cake maintains above 62,000 points, it is a short-term bullish trend of upward impact of 67,000 points. Any shocks in the middle are garbage time for us. Too much attention is called a waste of life.
Following SUI, other public chains such as SEI have also started to build momentum in the past two days. In terms of sector trends, there is a subtle competition between meme and public chain traffic in the short term. In addition, sui has also started to fight local dogs on the chain. The entire network is using the CX casting method. If nothing unexpected happens, one or two non-core public chains will also stand out. It should be noted that after the market starts fomo, there is a high probability that there will be a mess in the end, so if you don’t know how to play, don’t join in the fun.
The SEC will start a new round of intensive speeches, including the final report on second quarter GDP and other data. The market is expected to start to expand its volatility after the sluggishness in the past two days. When the crypto market should be calm, you must maintain sufficient strategic determination. The biggest problem in the market this year is the lack of liquidity. If you frequently operate when liquidity is insufficient, you will become the liquidity of the market.
Can CZ turn the tide and detonate the market?
Judging from the current market situation alone, there are many difficulties. After all, this is a market problem, and it cannot be solved by a single individual. In other words, CZ is the one who climbed all the way to the top from the old era, and the old narrative is no longer able to continue.
But fortunately, new traffic is still pouring in, and younger and more creative groups are entering the cryptocurrency circle. At this moment of change, how to take over and value new groups and new logic may be the problem that the legendary CZ needs to solve next.
On the other hand, no matter what, CZ's return is still a huge boon to Binance, and it will also have a positive effect on boosting user sentiment. It is highly likely that the Binance series of currencies will see a rise, and some people in the market have begun to target the so-called concept of CZ being released from prison. This shows that even if the market is no longer that market, CZ is still that CZ.
