BTC is likely to rise in July: In the past decade, it has risen 7 times with an average increase of 9.1%, and this year may continue the momentum, with a potential target of challenging $116,000. Although the short-term market is entering a consolidation suppression zone, there are no signs of reversal, and it is not recommended to short blindly. The ideal strategy is to wait for the consolidation to end and observe if a double top divergence structure forms.
As for $ETH, some say it can't rise anymore, but technically, this is not the case:
- The large green candle on May 8th, which broke through the resistance level, combined with the "acute conversion principle", has now become a strong support - which is also why it stopped falling on June 22nd when it touched this point;
- This round rose from 1400 to 2800, with a pullback only to 2100, not even reaching the Fibonacci 50% retracement, indicating the bulls are very strong.
Simply put, it's like the bulls have charged into the enemy camp, and the bears' counterattack is weak, with the bulls likely to launch another attack.
So the key is not the immediate rise or fall, but: can you determine the direction of this trend? I believe it's still rising. Today's rise, and everyone is shouting bullish again, it's typical emotional trading. I choose to wait and let the market fly, getting on board after it completes its deep squat. I'm not doing any wave trading now, with just one goal: wait for the trend and take the cycle. There's a high probability of a rate cut in September, with the real big market still ahead. The positioning direction is simple: only focus on #BTC, #ETH, #SOL, safety first, no fancy moves.
Now let's look at a few Altcoins discussed most today:
FUN
#FUN's trend today is truly funny😂 The trend is as abstract as an NFT doodle. MACD is almost invisible, KDJ is stuck in the 'I won't move' zone, and suddenly the price jumps like an electric shock! The SEC just finished looking at Pump.fun, is FUN also under the lamp? Don't gamble rashly, run when FUN is done.
MOODENG
This morning, the Korean directly opened with an Altcoin listing news - announcing the launch of #MOODENG! As soon as the news came out, MOODENG immediately soared over 50%. Although it hasn't been listed on Binance yet, it's already in the Binance Alpha pre-listing pool, which is meaningful. Upbit + Alpha, there must be a story behind it. Will it be the next hot spot?
Now let's talk about the most hyped recently, PENGU
$PENGU's current trend is increasingly like $PEPE before its breakout!
Just like $PEPE, it pulled back to near the Fibonacci 0.5 point before rebounding, currently up over 50% in a week, but hasn't broken through the key interval of 0.015–0.017. It's currently stuck at the upper rail of an ascending triangle. Once it breaks through with volume, it might really take off. More incredibly, Cboe BZX has submitted an application to the SEC last week, preparing to create a PENGU ETF. Yes, even meme coins are now rushing for ETFs, and it might become the second meme project to be reviewed by the US authorities after DOGE.
Simply put: $PEPE is the forerunner, $PENGU has a chance to become the next flying fat penguin
⚠️ Note: Non-farm payrolls will be published tonight. Whether you're long or short, be sure to set stop-loss and take-profit in advance and do good risk control. Also, remember: US Eastern Time Thursday at 1 PM, the US stock market will close early for holiday. In the next three days (Friday-Sunday), liquidity may significantly decrease. If the market continues to oscillate, it will be a battle of patience
That's it for the article! If you're lost in the crypto world, consider joining my community to layout and harvest from market makers! Can join the community VX+Q group! V: Fupi22497 Q: 3847185042
