Encryption market current situation$BTC
After the remarks by the Fed, the probability of a rate hike in September has increased significantly. The crypto market directly plunged, with spot ETFs shifting from net inflows to net outflows. In this leg of further sell-off, the bigger likelihood is that the main players are using news as an excuse to flush out long leverage, rather than a trend reversal.
On-chain observations: the 78,000–77,000 area appears to have more genuine buy orders. Even after the sell-off, there is still capital stepping in to absorb. Therefore, structurally, the correction has not finished yet. The probability of an upside continuation remains higher than the probability of further deep declines.
For execution: consider initiating a long around 77,500, adding to the position near 75,500. Set the stop-loss at 72,000. For targets, look at the resistance zone around 85,000–90,000.
For September overall, the recommendation is to do less and watch more: strictly set take-profit and stop-loss levels. Once the direction becomes clear, then increase your actions.
#BTC
After the remarks by the Fed, the probability of a rate hike in September has increased significantly. The crypto market directly plunged, with spot ETFs shifting from net inflows to net outflows. In this leg of further sell-off, the bigger likelihood is that the main players are using news as an excuse to flush out long leverage, rather than a trend reversal.
On-chain observations: the 78,000–77,000 area appears to have more genuine buy orders. Even after the sell-off, there is still capital stepping in to absorb. Therefore, structurally, the correction has not finished yet. The probability of an upside continuation remains higher than the probability of further deep declines.
For execution: consider initiating a long around 77,500, adding to the position near 75,500. Set the stop-loss at 72,000. For targets, look at the resistance zone around 85,000–90,000.
For September overall, the recommendation is to do less and watch more: strictly set take-profit and stop-loss levels. Once the direction becomes clear, then increase your actions.
#BTC
