July 29 BTC/ETH Mi Shen strategy

Last night, market sentiment split: the probability of a Fed rate hike in July rose to 30.5%, which narrowed noticeably compared with the previous few days. Crypto concept stocks were under collective pressure—RIOT fell nearly 5%, and in the past 24 hours the entire network saw $611 million liquidations; long liquidations accounted for $511 million, indicating that this round of sell-off was mainly longs getting beaten. At the same time, there were calming signals: the deputy foreign minister of Iran said the US has conveyed through Oman that it will not take action—one of the few definite positive catalysts in this period. Sentiment within the crypto circle is also split: Bitmine chairman Tom Lee said, "the market has already bottomed," but Saylor is also warning that the biggest risk to Bitcoin is actually the erosion of internal consensus rules. Going forward, the focus will be on the FOMC and this Friday’s five major Non-Farm Payroll data releases.

BTC: Big C’s channel line. If you have conditions, add it to your own chart. Here, the falling channel has also taken shape; last night it stopped falling after reaching the lower edge of the first zone at 62,888 and then rebounded. All the levels were published long in advance—so you can use them boldly. In the night session, it rose to the upper edge of the first zone at 64,100, where it met pressure and pulled back. Everything is moving in a standard way according to the chart. In the daytime, watch whether it rebounds to the upper edge of the falling channel near 64,600. You can try adding shorts to hedge. For defense, use 65,400 to avoid. If adding shorts, pay attention to multiple support boxes below (see the chart for details).

ETH: Last night it tested 1,855 again and then quickly rebounded. If you’re familiar with Mi Shen, you know how useful my level chart is—it's basically playing out exactly like the script. All the support/resistance levels are the results derived from Mi Shen’s long-term tracking. In the night session, it went to the heavy volume zone at 1,910-1,940, but there isn’t enough energy to push higher. It’s now again pulling back to find support, and on top of that, the external storage chip situation isn’t very stable. Overall, it’s still leaning bearish. I recommend shorting with defense at 1,940 during the day—when it approaches that area, add shorts. If adding shorts, the plan continues yesterday’s thinking: below there are several support boxes where you can choose to try. The box usage remains the same: enter at the lower-edge support; if it breaks down into the next box’s midline, then take profit by exiting the position. (See the chart) #Bitmine持有578万枚ETH $BTC ‌