7.24 Linmu Noon Afternoon Huang Thoughts

Market overview: This morning’s price action validated the Kongtou logic; the price has already effectively broken below the key support level. 4044.94—currently 4045—has now shifted from support into an afternoon resistance level. As long as the price stays below today’s strength/weakness baseline of 4077.00, all rebounds will be treated as corrections, and the main tone remains to follow the trend and look at Kong.
Key resistance to watch above: 4044-4077. For support below, first look at 4012 and 3994.
Thesis:
After rebounding into the 4040-4055 range and meeting resistance, watch for a high-Kong opportunity. The first target is 4012. If it breaks smoothly, then the next leg is lower toward 3994 and even 3976.
On the other hand, if it unexpectedly holds above 4077, switch to the correction thesis; after a pullback and confirmation, look for upside toward around 4113. #Gate事件合约首发狂欢 $BTC $ETH