Overnight, BTC continued to test support downward, breaking through 59k at one point, and returning to 60k in the morning. Affected by the A-share market's bull run and the Fed's manipulation of macro expectations, the crypto market is uncertain.
In the past 24 hours, the entire network has liquidated $187 million
Amid the wildly volatile market for Bitcoin, data from Coinglass showed that in the past 24 hours, the total amount of cryptocurrency liquidations exceeded US$187 million (long positions accounted for US$145 million), and nearly 56,000 people were liquidated.
Bitcoin will definitely fall
If Bitcoin fails to close above 61,600 today, it will continue to hit new lows and keep looking for support. At present, the market is weak and cannot recover to yesterday's intraday high. In the short term, high-short is the main trend and low-long is the auxiliary trend. Avoid heavy positions in long orders and close them while connecting. Before BTC rises sharply, it will be the same as usual, first piercing downwards. The deeper the needle, the higher the future rise, like the needle trend after 3.12 and 5.19.
In short, this year's bull market has been very bumpy; it has been looking back every three steps, making it difficult for people to build confidence. It is currently in the stage of consolidation in the middle of a decline or confusing retail investors. The longer the shock lasts, the more valuable coins will soar. This pullback still provides an opportunity to buy at the bottom.
Compared with ETH and SOL, which are more resilient, the depth of the retracement last night was smaller than that of BTC. Therefore, these two coins can only be traded at low prices, or a small amount of high-altitude hedging can be used to add icing on the cake.
Resistance and support points from today to next Monday:
ETH support: 2330, 2318; resistance: 2396, 2420. When the intraday rebound or close below 2372, 2282 can be considered in advance.
Sol support: 134.25-131.65; resistance: 139.50, 141.25. There is no need to reopen a short position below 138, as it is easy to be trapped.
Yesterday, Uniswap (UNI) suddenly gained momentum and reached $8.
Unichain launched by Uniswap! Obviously, unichain = uni + chain. Uni comes from the prefix uni- of uniswap, and chain means "chain". This chain is an Ethereum layer 2 chain based on Optimism superchain technology. Why is Uniswap's chain different from others?
“Unichain solves some of the most pressing challenges facing Ethereum transactions around Rollup scaling strategies, especially fragmented liquidity and inefficient cross-chain interactions. By introducing innovative technologies such as Flashblocks, the Unichain validation network, and integrating with Hyperchain, Unichain aims to become the hub for DeFi liquidity and the best platform to access DeFi on Rollup.”
Wish it success.
