Whether the downward channel of Bitcoin can end, the key depends on the support of this point
The USDT hearing last night came to an end. As I analyzed before, there was a lot of thunder and little rain. Although the two sides discussed "whether USDT is a security", "whether Bitfinex provides services for residents of New York State", "whether New York prosecutors have jurisdiction Intense discussions were held on the "rights" and other aspects, but no resolution was reached and a 90-day postponement of the trial was approved.
Corresponding to the market, there is no change, and the expected extreme market has not come. Except for the small-level up and down pins, it is still in the range consolidation trend, the market fluctuates slightly, and the volume can shrink.
At the daily line level, the market reached its peak for the second time in the first 10 days of July, but failed to stabilize the upward momentum, and then entered a downward channel. The market as a whole has been going down, looking for support. From the current point of view, there have been several touches around $9,000. This position may form a strong support in the short to medium term and build a platform bottom. If it can stop the decline and stabilize, relying on the support of 9,000 US dollars, the follow-up market may take off again.
From the perspective of news, there are still a lot of news events throughout July, such as Libra hearings, USDT hearings, DrisX obtaining a Bitcoin futures contract license, BAKKT futures test, Buffett lunch, etc., the market fluctuates and transactions are relatively active. But next month, apart from the halving of LTC, there will not be too much big news. Without news stimulation, it will be even more difficult for the market to improve.
Operation suggestion:
Operation suggestion:
BTC: The market fluctuates slightly, the hourly level is below the downward trend line, and it is doing interval consolidation around 9400-9700 US dollars. The short-term weak support is 9,400 US dollars, the strong support is 9,000 US dollars, and the upper pressure is 9,700 and 10,200 US dollars. In the short term, it is recommended to pay attention to the changes in volume energy. Before the market makers take action, the market will continue to fluctuate within a narrow range.
ETH: As a whole, it fluctuates in the range of 200-225 US dollars, and there is no independent market, unless there is a major change in volume.
LTC: The hourly line is getting serious, and the halving time in August is getting closer and closer, and the selling pressure is heavy. The short-term support is 87 US dollars, and the strong pressure above is 100 US dollars. It is recommended to reduce positions on rallies.
BCH: Following the trend of the broader market, $300 is the short-term support, and the upper pressure is $325.
EOS: The 4-4.4 USD range is sorted out, and the 4.8-5 USD range is a strong pressure level. Before breaking through, there is not much market.
Platform currency: short-term volatility trend, pay attention to short-term support, BNB 25 US dollars, HT 3.6 US dollars, OKB 2.3 US dollars, GT 0.8 US dollars.
The recent trend of altcoins is generally weak, and the market is not very good. Some currencies have a short-term upward trend, but you must know that the market is unsustainable.
