The general market is rising again! Is it a rally or a reversal?

Bitcoin has been effectively supported for the fifth time, still around 29,000, and such a move is already considered very strong.

The general market is rising again! Is it a rally or a reversal?

Short-term (intra-day): up

Medium term (more than two weeks): down

Talking about hot spots

It finally started to rally today! After several days of negative attacks, many leeks have been numb, the cut meat have been cut, the dead long head is also exploded almost, so today’s rebound is considered a normal retracement. But the rebound is not a reversal, in the most important boots did not land before, no one can be sure that now is the real bottom, so eager to plunge or even chase the high friends must be stable, and so the major domestic trading platforms really have a say on the OTC before moving is not too late, if the boots have been hanging in mid-air for months, then this intermediate process will also have countless uncontrollable events, not all the Not all retail investors have such strong conviction to be able to hold bitcoin for a long time, once the bottom is copied to the mountainside it will inevitably be washed out of the game, so you must identify yourself and find the right investment method for you, don’t just pursue what left or right side trading.

Although the price rebounded today, but the policy is still not relaxed, the afternoon people’s strong observation column and published a four questions bitcoin report, the four questions are as follows: a question bitcoin: why regulation came one after the other how big is the risk of speculation coin? Two questions about bitcoin: “mining”, how energy-intensive is it? Three questions about Bitcoin: How much do you know about the chaos of the “cryptocurrency world”? Four questions about Bitcoin: How can the blockchain develop healthily? These four issues are the crux of the recently introduced policies, plus the integration of the bulk trading area to the general trading area of Firecoin, can be seen now all parties named financial institutions or related trading platforms are doing targeted rectification, so I predict that the problems faced by the OTC will soon have a statement, we will see what happens.

The company also said today that it has temporarily stopped selling spot machines due to the recent influx of used machines into the market, which is known as a way to ease the pressure of customer shipments. In addition, Bitmain has announced a full shift overseas, with some of its mid- and senior-level employees moving overseas. In addition to bitmainland, KaNanChi has also decided to set up an operations base in Kazakhstan, officially opening up bitcoin mining overseas. The series of moves by the giants can be expected to solve the problem of arithmetic power loss in the future, so this is a positive thing.

Of course, today’s all-out rally also has a lot to do with Powell’s reaffirmation of his dovish stance. Fed Chairman Jerome Powell attended a House hearing on Tuesday, where he reiterated that he would not press for an immediate rate hike due to inflationary pressures. In terms of exiting the ultra-loose monetary easing, the Fed will patiently assess the relevant data. So the risk of a rate hike that everyone was worried about recently is basically gone, and the Nasdaq has set a new all-time high, and bitcoin has staged a deep V rally.

03 Orange reads the market

BTC: Bitcoin got effective support for the fifth time, or near 29000, such a trend has been considered very strong, actually fell below a new low after not continuing to fall, indicating that this position is strong buying, while the daily level of the ground release actually, such a signal is still relatively positive, the army of bottoming out indicates more.

4-hour level, the fifth effective support, if no accident, this should be the last downward test, unless the last policy short except, I have said before the morning report, even if the policy short out, the market will also appear after a sharp decline will V flip the structure, because the market trend is not with the market’s active will to fall, are because of external factors forced to cause the market to fall, such trends are temporary, and eventually will go in the direction of the market should have, that is a word, up.

4 hours level, above resistance 36000, 39000, if once again stabilized 40000, that is not to be, was abused 2 up to 2 months of more troops, it is time to perform, irresponsible prediction, July how will come out of the downtrend, and then gradually pull up.

ETH: ETH is on 2000 points again, in the long run, no matter what the market is like ETH at least the liquidity will not dry up, this is also the basis for ETH to be able to turn over no matter how long it takes, so if you think you can hold it for a long time, my advice is don’t wait, keep buying.

BNB: BNB rebounded stronger than ETH today, but yesterday’s performance was not good, in the long run or less stable than ETH, but in the short term if you want to fight a rebound, BNB may be better.

LINK: LINK rebound is also bar, yesterday to today’s performance is very hard, and there is the potential of a bear market in the year, it is worth laying out some long-term positions.

DOGE: DOGE rebound is also good, the same strategy as yesterday, if you have garbage cottage in your hand brainless for DOGE can also be.

ICP: ICP today’s rebound is also weak, even worse than ETH, so the strategy or short-term do not touch, want to copy a bottom can wait for the seed round release it.

FLOW: FLOW rebound strength today is quite strong, in addition to the impact of the broader market and the Tokyo Olympics NFT opening sales, FLOW is currently cooperating with units are world-class, which is why I have been bullish reasons, my strategy for FLOW has always been, the more down to buy, long-term hold.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-general-market-is-rising-again-is-it-a-rally-or-a-reversal/
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