The recent market conditions are really difficult for retail investors to operate in. There's a lot of uncertainty, especially after the 8.5 crash. This is all psychological. Don't overthink it. Keep it simple: don't blindly enter the market. If there's an opportunity, take it; if not, wait. The market fluctuates 24 hours a day without closing, so opportunities will always arise!
Highlights for Today and This Week
The situation in the Middle East has eased slightly, but we have to pay attention to the Russian-Ukrainian battlefield again. Over the weekend, Ukrainian drones directly struck Moscow.
The market is worried that the war will escalate further, and Bitcoin has once again fallen below $60,000.
Two Major Data Releases This Week
Tuesday 20:30, US July PPI release, higher than expected is bearish, lower than expected is bullish.
Wednesday 20:30, US July CPI release, higher than expected is bearish, lower than expected is bullish.
Main Focus This Week:
First support level in the range of 54000–56000
The second position to focus on is 52000. If this level is broken, the market will directly fall below 48000.
After falling below 59000 on the 4-hour chart, it has entered a oscillation mode, and the overall market will repeatedly test the support levels.
Everyone should control the risk. On the daily chart, short-term traders can focus on the intraday support level of 58000. If it falls below, look at the intraday support level in the range of 56000–56600. The resistance level near 59200 on the daily chart. The objective view of the market is to wait for stabilization.
The weekly chart from last week was relatively good, basically indicating that around 50000 is the strongest support level for this round of retracement. However, it will take time for the market to truly stabilize and enter an upward trend after a major decline.
Bitcoin (BTC) Monthly Returns
The market hasn't been great in August and September, which has been the cyclical pattern for the past 10 years, but the fourth quarter tends to perform the best!
Just hold on for another 40 days, and the quarter with the highest average return will begin!
Once Bitcoin stabilizes, these meme sectors are worth paying attention to
Ethereum: pepe, leading floki token turbo people
Bitcoin ecosystem: ordi sats
SOL ecosystem: wif bome bonk
BNB ecosystem: why
Which meme coin do you think has the potential for tenfold or hundredfold growth?
In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle to stay warm and maintain insight. It's actually very difficult to persist in this industry if you're all alone and clueless.
If you want to stay warm or have doubts, feel free to join us—WeChat Official Account: Youth with Coins.
Thank you for reading. If you like it, please give us a thumbs up and follow us. See you next time!
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