HOW MARKET WILL REACT IN AUGUST
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Yesterday we saw major movement in the market as we are still trending at this uncertainty period after the price break the low of previous range as well.
However, there was actually a hard bounce later to try to claim back inside the range but getting rejected.
All of this movement is just an unnecessary volatility because of the low volume and lack of liquidity in the market.
With all of this movement, the $28.4k region can be tested again in near future as I haven't seen any change in overall structure just yet.
Moreover, the daily 55 EMA (green) is holding nicely as dynamic support. A break below this will be necessary for claim and finally test the green box more properly next time.
Be in mind at current condition the bears are still stacking with more and more hidden sell wall above to be filled. Watch out for another manipulation in the market.
With this kind of volatility, I'm sure that August will be a very volatile market.
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