7.19 Analysis of Auntie Da Bing
I didn’t post any public points yesterday, I just posted a 30,000 point position in the middle of the night and took a few hundred points and then came out.
According to the performance of trading volume, we can find that the market experienced a rapid decline in the early morning hours. When the price was close to 29600 to 30000, there was no strong support. Only when the price reached 29400, there was a rapid rebound. In general, this decline was about 500 points before a rebound.
Then in the morning, the market ushered in a positive line that broke through the important mark of 30,000, and successfully broke through without encountering too much resistance. From the perspective of trading volume, the short-term trend does show that the market may turn around.
In terms of news, I think today’s SEC review may increase the difficulty of the application. With Ripple’s recent victory, people in the market believe that the SEC may back off and gradually relax the regulation of digital currencies.
However, it seems that the SEC has begun to adopt a review mechanism, probably to demonstrate their authority and emphasize their existence. So I think this review may encounter many difficulties and will not be so easy.
Don’t be overly optimistic and don’t let FOMO get you in the head. It’s better to look at it rationally, because the SEC may use more stringent measures this time.
Today's strategy is to hold high positions. I have always suggested keeping a light position. If the price drops or the rebound is very strong, you can choose to cover your position.
BTC's lower support is still around 29800 and upper resistance is 30400. It depends on whether it can stand firm at this position. There is a high probability that it will retrace.
ETC's lower support is around 1880-1900 and upper resistance is around 1930. You can write an article based on this range. Wish you all good luck #BTC
