ETH has been rising continuously since July 20th, breaking through the previous high point. Interestingly, all the rises are jogging in small steps, and the upward trend has never been destroyed-if there is a sudden rise, it can be considered that the market may stagnate.

Why jog in small steps, but don't look back?

Mainly due to the huge demand brought by the popularity of NFT, the explosion speed of NFT has even exceeded DEFI.

For example, the popular card game AXS took a month from tens of thousands of players to 200,000, and it took only a few days from more than 200,000 to 1 10,000.

AXS is just the tip of the NFT field. Let's look at the data growth chart of the trading platform:

In the chart, the rightmost data is August 1 to August 4, which is just four days, exceeding the historical sum-today is the 7th, and this data should be even more frightening.

I said in the past that I don't understand NFT, but the influence of NFT is too great to be ignored-it is changing the model of blockchain. Of course it is a bubble, but what is not a bubble? Where can we buy beer without foam? If you want to drink, you have to embrace the bubble.

In fact, not only NFT, but also Defei is recovering. Please take a look at this:

The lock volume has further rebounded and is about to return to the previous high point.

The previous surge of ETH was mainly driven by DEFI, but this time there was a super-strong NFT. Considering the expectations of EIP- 1559 and 2.0, perhaps ETH's $20,000 can be achieved in this bull market!

The proposal of EIP- 1559 came into effect, and with the popularity of Defei and NFT, the internet fee is now further increased-the amount of burning will be greater. The data I gave you in yesterday's article is 4000 ETH. Today's data are as follows:

There are 7454 of them. Considering that the greed of the market has not yet risen, I think it is probably just the beginning. The next step is to destroy 65,438+00,000 pieces every day, which should not exceed one or two blows-which will further promote expectations and price increases.

There are only two possibilities to withdraw money from the exchange, one is to collect money, and the other is to take it to participate in the projects of Dex, NFT and Defei. Combined with the analysis at the beginning of my article, it can be confirmed that the withdrawn funds are all involved in NFT and Defei, so now the market is to attract more people and then further attract wait-and-see funds to enter the market.

Look at today's market analysis:

Last night, Bitcoin Ethereum rose rapidly again, constantly refreshing its high point. Bitcoin rose to the highest line of 43400 in the session, and the starting point was also very clear. After stepping back to confirm the 40,000 integer mark, it opened and rose by 30,000 points in the day. The same is true of Ethereum. After falling back to test the 2750 line, it rose again and broke through the pressure of the previous high of 2850, and then further rose to the highest level of 2950. The intraday gain is also 200 points.

Compared with the previous market, the recent fluctuation range is considerable. Except for the space of falling back and saving money, the daily rising space almost exceeds the fluctuation of 200 points. However, in such an obvious market, not everyone is sure to make money. The market with obvious trend direction and support level is not visible to everyone, which needs to be judged by market-tested experience and vision, otherwise it may not be able to get rid of the fate of chasing up and killing down.

The market experienced a decline in the first two days, and the trend became clearer after the daily line continued to close. Bitcoin's daily line once again stood above the key pressure level of 4 1300, and then continued to try to break through the new high with high probability. The high pressure of a small-scale decline in the previous period has been broken, and the market may accelerate next. As can be seen from the top of the hourly line, the market has gone out of a relatively obvious step-by-step rise, with the highs and lows constantly moving up, and the trend is obviously in a strong operation. Therefore, the overall operation idea remains unchanged today. Take advantage of the market to support lower lows and lay out more orders in batches. According to the idea of pressure level conversion of support level, the initial support level below can first look at the previous high of 42600, and the further support level below is 4 1300. The defensive position is obviously below 4 1300, and the upper target position depends on the breakthrough of 43400 high.

Compared with the pie, Ethereum is obviously much stronger, and the daily line has not gone out of the multi-day adjustment market like the pie. A negative line that came out for such a long time was immediately wrapped by the Dayang line, and it was constantly refreshing the high position. This strong rise is mainly due to the benefits brought by the stable trend in the previous period. Perhaps you will find that although Bitcoin rose sharply some time ago, ether also rose, but the range was very small and there was no big increase. This is the benefit of the slow and steady rise. The trend of the main capital inflow to the queen mother to refresh the high point looks quite strong, which is why Lao Liu has always stressed that ether is more worth operating than bitcoin. The above operation is still the same. Look at creativity more. Hold the 2850 first-line support below and do more. If the market goes through a deep correction, it can make up the position. It depends on whether the new high can be broken again. The defensive position is below 2740. # digital currency # # Bitcoin [Chaohua] # # Ou Yi OKEx#