BTC, ETH strategy, pay attention to the details here!

The pullback of BTC is too small, can only do short long, I don't want to short again anyway. I stayed up until 2 o'clock last night and it didn't go down.

Today:

Although ETH is weak and ignored by most people, it is moving forward at a turtle's pace. Currently, it is in the process of a 6-hour level rebound, with a target range of 3336-3360 (near the high point of 3340).

sol: Synchronize btcRebound, the starting point is 165 in the early morning of yesterday, the high point of swing trading is 182.50, after reaching it last night, it rebounded to around 179.25 and continued to rebound, currently hovering around 182-183. The offensive in the past 24 hours was fierce, and many people may not be able to resist chasing rising prices at this time, but I do not recommend it personally. It is more prudent to refer to the highest point of this week, 185.25. After a strong breakthrough and confirming stability at 182, then consider 189.50.

btc: The retracement to 63800 is a strong support. Under the combined effect of Trump's speech at the btc conference, there was a strong counterattack in the past 24 hours, but it has not yet exceeded this week's high of 68450. After the btc conference tonight, this topic will cool down. It is recommended that those who have already entered a short position should not chase after higher prices, or those with a small position can try. Today, you can start to short with a small position at the high points.

Good morning everyone! Market analysis! Thank you for your support!

#今年比特币大会能助力BTC大幅上涨吗？#
Whether it affects or not ~ hold Spot ~ no position ~ casually rise and fall ~ just chat ~ watch live ~ claim airdrops ~ etc. ~ watch live ~ chatting in the chat room will not affect your own trading mindset ~ don't criticize me ~

Trading Strategy

Golden Finance reported that Ki Young Ju, founder and CEO of CryptoQuant, stated on X platform that this round of BTC Bull Market cycle may last until mid-2025. Ki Young Ju explained that 'whales' profit during the Bull Market, and their dumping brings new capital into accumulating Address, thereby increasing the actual price. The profit realization period of the previous cycle was about 18 months, while this time it started 4 months ago.

#FIGHT# Do you guess if I run? 😏 I bought 0003, how much do you guys have?

3 Narratives with great potential
AI advancement still dominates, The narrative of AI usage in medical diagnosis & personalization of healthcare is becoming more prominent. This technology assists in analyzing patient data, predicting diseases, and developing more effective treatments

The narrative of climate and global warming has not escaped attention. This theme includes global efforts to reduce carbon emissions, transition to renewable energy, and green technology innovation in combating environmental impacts.

Defi is still sexy and evolving as refinement continues with the growth of the blockchain ecosystem, the shift from traditional financial systems to blockchain-based platforms offers decentralized lending, investment, and financial services.

#Recommend top 3 narratives and tokens in 2024#

For projects that are still overlapping above, you should pay attention to and consider and always DYOR
ETH BTC LINK

BTC/ETH, spot #BTC# #ETH#

#币圈观察员#
BlackRock's digital asset head, Robert Mitchnick, said at the BTC 2024 conference that despite the launch of the SpotETH ETF this week, it is unlikely to open the door for funds for other encryption assets, such as SOL for Solana or MATIC for Polygon.
He pointed out that BTC accounts for about 55% of the market value, while ETH accounts for 18%, and other potential investment assets account for only 3%, far from reaching the maturity and Liquidity thresholds.
Mitchnick emphasized that BTC and Ethereum are complementary, with BTC seen as a potential global payment system and Ethereum as a technical platform for building new applications.

Attack the Shadow Lord, go go go go go. All positions 80%, reserve 10%-20% funds, just guard against unexpected situations. Let's bet on Sideways on weekends or Trump's Bitcoin conference pump, the risks are the same, please manage it by yourself. Personal suggestions, for reference only.

#Will Bitcoin 2024 Conference drive a BTC rally?# Bitcoin (BTC), while maintaining the $65,000 support level, is preparing for a potential rally to $71,000
Bitcoin successfully bounced back from the critical support level of $65,000, giving investors confidence and indicating stability and potential upward movement. Recent price movements show that BTC is ready to test the $71,500 level.
NOT INVESTMENT ADVICE
#BTC#
#ContentStar#

#CryptoObservers#

Polymarket currently accounts for 6% of transaction fees on the Polygon network. However, the price movement of MATIC seems relatively unaffected by Polymarket's recent growth. This highlights the significance of these transaction fees. Explore the complexities and impact of the increasing transaction fees directed by Polymarket on the Polygon network, and understand why this increase has not yet been reflected in the price of MATIC.

Polymarket's Increasing Impact on the Polygon NetworkThe prediction platform Polymarket has emerged as a critical factor influencing transaction fees on the Polygon Proof of Stake (PoS) network. According to Blockworks data, Polymarket currently accounts for 6% of all transaction fees on Polygon. This increase is attributed to the rise in user interactions and transaction volumes, including $100 million in user bets since June.

The Impact of Polymarket's Growth on MATIC PerformanceDespite the growth of Polymarket, Polygon's native token MATIC did not experience the same level of increase. In fact, while Polymarket gained significant attention in June, the value of MATIC decreased by 19%. However, this decline is in line with the overall downturn in the cryptocurrency market, indicating broader market influences. Interestingly, due to the European Central Bank's trial of tokenized assets on the network, there was a noticeable increase in MATIC's daily active address count in July.

Current Market Activity and Future Projections for MATIC
In recent price movements, MATIC encountered significant resistance around $0.5. While the Relative Strength Index (RSI) indicates weak buying pressure, the Chaikin Money Flow (CMF) suggests that there is not enough capital inflow to sustain a rally above the 20-day Simple Moving Average (SMA). This current market behavior indicates the potential for MATIC to drop to $0.49 if the bull momentum triggered by Bitcoin reaching $70,000 does not change market dynamics.


While the significant impact of Polymarket on transaction fees on the Polygon network is clear, this has not yet translated into price increases for MATIC. The token's future performance may be more dependent on broader market conditions and significant movements in Bitcoin, rather than its usage in the Polygon ecosystem.


#CryptoObservers#    #CryptoObservers#   #ContentStar#   #HotTopicDiscussion#