The pressure above BTC is around 672, and there’s another resistance level at 682. If you want to kick off a bull market, BTC has to break above 730. Personally, I don’t think it will break through, so I went short.

These past few days I haven’t been feeling well. Just after wrapping up my conversation with my students, I talked in the livestream about the BIP-110 protocol. It mainly aims to ban things on the Bitcoin public chain that are unnecessary protocols and that take up public-chain resources. Since the Bitcoin public chain is already quite slow, inscriptions, the Lightning protocol, and the like haven’t brought better value to the Bitcoin public chain—so the Bitcoin community has proposed this plan.

Supporters hope for a more focused Bitcoin public chain, while opponents think the ecosystem should be more diverse. The more people use it, the more gas there will be for miners—although the btb chain is slow as hell! Of course, all of this requires the entire node community to vote on it, and it may also directly involve a hard fork. The Bitcoin public chain has had two hard forks before, which resulted in two tokens: BSV and BCH.

Late July to early August will be when things are decided. At the same time, the passing of the Clearing Bill is a positive—this could be the driving force behind this BTC rally. If it passes, it’s very likely that the positive will materialize on the ground and then turn into a negative, so be cautious.

My student Sun Peng is coming to Chongqing tomorrow again. Oh my gosh—if he comes, it almost always ends up being a drop. A curse!

Trading your own way is really like crossing tribulation—you have to personally deal with each one of the trials, one by one, before you can finally make it to the other shore!