News Focus
Ethereum's new "Holesky" test network will be launched in September.
SEC files motion to appeal "Ripple coin ruling."
The weekend market trend is relatively flat. After a cliff-like drop on Friday, the market lacked continuity and briefly consolidated within a range. As of now, the market sentiment remains bearish, indicating a high probability of further decline.
In terms of market sentiment, Bitcoin's current situation seems to be significantly influenced by short-term holders. According to recent data from CryptoSlate, 20,000 bitcoins held by these short-term investors are currently at a loss. If panic grips this group of investors, a significant market sell-off may occur, leading to increased market volatility.
Although these factors do not clearly predict a market turnaround, they emphasize the importance of monitoring the behavior of short-term investors and their potential impact on the Bitcoin market.
From a technical perspective, the daily upward channel has fallen below $29,000, currently at a crossroads between bullish and bearish. The short-term consolidation has not shown signs of market recovery. There is a clear lack of signals for bottoming out, and the market may utilize the bullish volume on the 4-hour chart to initiate a partial rebound, prompting short-term external chips to intervene for absorption.
Recommended Strategy: Enter a small long position intraday. For conservative traders, it is advisable to focus on shorting at high levels.
Recommended Entry: Enter long near the current price of 26,100, with a target of 26,400-26,600.
Short Entry: Ambush short at 26,400-26,600, with a target downside of 26,000-25,600.
The wind in July, the rain in August, there will definitely be better luck in the second half of the year. Blue Chen's trading record for this month: 7 wins, 3 losses, win rate of 70%, profit of 4800 points, loss of 600 points. Real-time updates are synchronized across the entire network (small currencies are not recorded).
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