Market Insights
Focus on Upper Resistance
After the US stock market opened, there was a rebound, with Bitcoin approaching the upper resistance levels of 116,000 and 117,200. Pay attention to whether it will face resistance and drop at these two levels.
Ethereum has exceeded the expected range of 3,550-3,580.
Sol has not yet reached the expected price of 170, indicating that Sol is a relatively weak asset.
Currently, I still lean towards believing that the rebound is an opportunity to reduce long positions. There will likely be a correction in August, with a high probability of breaking below 1,119 (possibly reaching the 109-110 range).
Pay attention to assets that may have bottomed out early, such as fartcoin and Aave, for potential buying opportunities if they do not make new lows during the second test.
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