These two days, the market is like a pure roller coaster ride.
BTC is oscillating at high levels, ETH surged and then fell back, and Altcoins are in a mess.
Today, I'll help everyone sort out the current market rhythm, mainstream coin strategies, and potential trading opportunities on some chains and CEX. Those who are cautious can first draw lines to look at the range, while those who are aggressive can start to lay the groundwork.
Today's Market Rhythm
Bitcoin (#BTC): Currently oscillating in the 4-hour structure, holding the daily line, with a rebound still possible. Short-term resistance is at 118.5k-119k, with support at 116k. If it breaks below, it might directly enter the 114k-116k wash-out zone. By the end of this week, this adjustment may be coming to an end.
In plain words: The direction is not complete, don't step on the wrong rhythm.
Ethereum (#ETH): This round almost touched 4000 but was hard-pressed back. Now stuck in the 3720-3760 range, with intraday pressure at 3800. If it breaks below 3720, it might retrace to 3600 or even 3500. It's not recommended to act rashly at this position.
Altcoins: Rebound Intensity Clearly Insufficient, Breakout Window Not Yet Here
This Altcoin wave is very fragile. As soon as the market pulls back, it immediately crashes. Many coins' recent rebounds were lukewarm, with neither volume nor magnitude showing a "about to start" signal. A few typical examples:
- $SUI dropped 12% yesterday
- $OP wiped out the previous day's gains (those who followed the rhythm safely bagged profits)
- $JUP dropped nearly 15%
The key point is: Don't expect the market to rise on its own if it's not a coin with continuous external inflow. However, the #C coin recommended by Sister Miao in the crypto circle yesterday had a good rally, directly rising nearly 20% today. Indeed, the most expensive three words in crypto are: "Wait a bit more".
Currently, the true takeoff window for Altcoins may still require the market to enter a FOMO state before experiencing that kind of "collective climax" rotation.
Today's Altcoin Watchlist:
#BNB: King's Return?
BNB broke its historical high on July 28, currently above $850, with a nearly 35% gain in five weeks.
- First stop: 886 (Fibonacci retracement)
- Second stop: 1037
- Ultimate position: 1187, even 2000 is not a fantasy
Altcoin market cap has surpassed its previous high. If it replicates the last bull market's 200% increase, the overall Altcoin market cap might surge to $5 trillion. As the platform coin leader, BNB is absolutely a wind vane in this wave, one of the core coins you want to hold in the bull market.
#DOGE: Another Build-up?
Dogecoin has confirmed breaking through the 0.23 Double Bottom structure, with technical signals maxed out, daily volume + golden cross, targeting 0.418. If it holds 0.23, it might follow the familiar rhythm of "slowly climbing, then suddenly exploding".
I personally continue to be bullish, but definitely don't chase high. Trading or buying on pullbacks is the main theme. As for the L2 layer recently mentioned most, #OP has also pulled up quite a bit, as hinted in the circle yesterday
As for #PEPE from earlier, the wagon is too heavy, and the pile is reluctant to pull. At an awkward position, impatient babies might consider replacing it.
Chain Highlights: Patience + Pre-positioning is the Main Tone
Recent chain #meme is not easy to trade. Apart from #Vine being somewhat interesting, others are not very effective. Market funds are clearly cautious, with many "explosive expectations" just waiting. However, a few observation points can be watched:
- $uranus: Rebounding, continue to watch the position
- $aol, $fair3: Added to observation list, small position established for $fair3
- memecoin: Truly ugly, best to give opportunity around 10 million
- #BANANAS31: Rumor says market makers want to pull up to 0.01, I'm betting with a small position below 0.007, stop loss set, believe it or not
Summary: In August, pay attention to Hong Kong stablecoin concept, continue to stay clear-headed, focus on leaders and external fund directions. When the next wave of explosion arrives, don't be caught off guard.
I'm Little Miao, that's all for today's market. May you buy the dips without buying your face, take profits without tears. If you're lost in crypto, consider joining my layout and harvesting from market makers! Can join community WeChat+QQ group for market analysis, coin recommendations, and good news... WeChat: c13298103401 or QQ: 3806326575
