Cryptocurrency News
August 5th Hotspots:
- Musk: X will never launch a cryptocurrency token
- Data: Curve Finance founder continues to sell 8 million CRV tokens
- Bloomberg: DCG faces investigation by the New York Attorney General due to its connection with Genesis
- Miami Mayor: Accepts Bitcoin for presidential campaign donations
Trading Insights
- Always be an honest and objective person in the market, neither deceiving others nor deceiving yourself. Be sincere in dialogue with the market, love the market, and learn to be friends with the market.
- The market is a school that you can never graduate from. Always maintain a humble and cautious attitude. Keep a calm mind and be an ordinary person. Always have a sense of awe for the market.
- Contentment brings happiness. There is endless money in the market, but more money can also be lost.
- Always maintain the ability to perceive beautiful things in trading.
- Always believe in yourself. In the market, only you can control your own destiny. Be unfazed and only compete with yourself.
- The market is always right. Believe in what you see in the market. At the same time, remind yourself that anything can happen in the market.
- Firmly believe in the power of market trends. Following the trend will yield twice the result with half the effort, while going against the trend will ultimately be difficult to escape from misfortune.
- The most important thing in the market is the ability to survive. As long as you are alive, there is an opportunity. The primary goal is to protect capital. Be brave enough to admit mistakes to the market and avoid unnecessary losses due to a single judgment error.
Search for the public account: "Dabai Lunbi" (Big White Coin)
BTC
Analysis
Bitcoin's overall volatility was not significant yesterday. It reached a high of 29328 but was resisted and fell back. The early morning candlesticks fell continuously to a low of 28823 and then rebounded. Congratulations to friends who followed yesterday's strategy and profited 400 points from short positions. Currently, the coin price is running near 29086. Although the four-hour chart shows a decline, it did not continue. After the candlestick pierced down, it quickly formed a long lower shadow, and the candlestick turned from negative to positive. The non-farm payroll last night did not have a significant impact, and the overall market is still in a oscillating phase. In the short term, pay attention to the strength of the rebound. The daily chart once again closed above 29000, but the rebound strength is not strong. The overall high point is moving down, and the MA7 moving average is pointing downward, indicating a bearish trend. The strategy is still mainly to go short on rallies and long on dips. The upper resistance is 29300-29600, and the lower support is 28800-28500.
ETH
Analysis
Ethereum, like Bitcoin, was resisted and fell back yesterday. Early morning, the bears accelerated the decline to the support level of 1816, and then rebounded. Congratulations to friends who followed yesterday's strategy and profited 30 points from short positions. Currently, the coin price is running near 1830. On the four-hour chart, it once again tested the previous low without breaking through and rebounded. The candlestick has a long lower shadow, indicating a short-term demand for a rebound, but it is expected to not have much space. The MACD is bearish, but the volume is insufficient. The overall situation is still a narrow range oscillation. Looking at the daily chart, 1830 has not effectively broken through, showing signs of a rebound. If it does not break through 1860, there is still a downside risk. The weekly chart shows three consecutive bearish candles, indicating the possibility of a breakthrough below 1790 next week. The strategy suggests focusing on shorting at high rebounds and longing on dips. The upper resistance is 1850-1880, and the lower support is 1810-1786.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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