Good evening, everyone!
Market trading is the same. If you are always fully invested and don't understand the concept of being empty or lightly invested, it is unlikely to make a profit in the market for a long time. Only by continuously reducing positions and taking profits when the market is rising, and continuously buying cheap chips when the market is falling, can you secure market profits, otherwise the profits will run away.
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On July 23, according to news, Valentin Fournier, an analyst at the digital asset research company BRN, said in an email that we recommend maintaining a positive exposure to the cryptocurrency market, but we prefer Bitcoin over Ethereum, as we believe that the speculation and ETF inflows of Ethereum have already been digested by the market. We expect Ethereum to fall to a level between $2800 and $3100, and then rebound to $4000 in September. Markus Thielen, founder of 10x Research, expressed a similar view in Tuesday's communication, saying that once the (Ethereum spot) ETF is launched, investors will take profits.
BTC: Looking at the 4-hour chart, the price has fallen below the middle track of the Bollinger Bands, and the short-term market is generally weak.
Looking at the daily chart, the price continues to oscillate near the moving average.
In summary, the support level is 66400, and the resistance level is 66900.
ETH: Looking at the 4-hour chart, the price continues to stay above the middle track of the Bollinger Bands, and the trend remains healthy, with the support level at 3500 and the resistance level at 3530.
LTC: The price continues to stay below the middle track of the Bollinger Bands, with a general trend, and the support level is 71, and the resistance level is 74.
BCH: The price continues to stay below the middle track of the Bollinger Bands, with a general trend, and the support level is 370, and the resistance level is 390.
That's all for now, good night!
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