Yesterday's market trend was basically in line with the prediction during the day, with a strong rebound on the support level, but this morning it fell back again after a high rise. Is this a sign of exhaustion of bulls or a test of the strength of the bears? After reaching 30,000 points in mid-June, the market has been sideways for two weeks. This week is the third week. This is a test of traders' patience. Kazuo Inamori said: Spending time in bed makes you gain weight; spending time on books makes you wise; spending time on exercise makes you healthy; if you spend time on recharging your faith today, the market will recharge your account.

At present, although the market is sluggish, the bulls have not yet shown a peak signal, and tend to believe that the market will fluctuate at a high level to clean up the market. The trend of the previous two waves of this wave is also the same, first rising, then sideways, and then reaching a new high, so that the energy of the air force can be fully digested. However, this market is expected to break out as early as this week, and at the latest next week.

Recently, many people in the market have begun to predict the time and target of the next bull market. Xiao Yan believes that it is too early to discuss this topic now. The Fed’s interest rate hikes are not over yet, and it is not clear how many times it will raise interest rates. Moreover, stopping interest rate hikes does not mean that interest rates will be lowered immediately. Only interest rate cuts will bring substantial benefits to driving market growth. It does not mean that you will definitely make a lot of money when the bull market comes. You should live your life well first.

Currently, whether from the weekly, daily or four-hour chart, there is no obvious bearish trend in Bitcoin. Instead, the support below is relatively clear.

Market analysis:

BTC: Reference support: 29300~29400 range; upper pressure: 31200~31550

ETH: Reference support: 1842~1848 range; upper pressure: 1910; 1935;

If you think Xiao Yan is sincere and responsible, welcome to follow and communicate