The Great Master says: 7.8 Musk is completely disappointed with fiat currency! A new political party will embrace Bitcoin!

CN
5 hours ago

Elon Musk's recent political bombshell regarding the establishment of a [American Party] has sparked heated discussions. Now, this tech mogul has publicly stated that the new political party will embrace Bitcoin and has expressed his complete disappointment with fiat currency. The news of this tech newcomer stepping into the political arena is rapidly gaining traction and is expected to bring about new political changes in the 2026 midterm elections.

Although Musk was once a significant financial backer of Trump, their relationship has recently taken a sharp downturn. Trump has publicly threatened on social media to cancel government contracts with Tesla and SpaceX, and has even suggested expelling Musk back to South Africa. This morning, he openly told reporters: I think the establishment of a third party is ridiculous. The U.S. has always been a two-party system, and creating a third party will only add to the chaos. I am saddened to see Musk completely derailed; the past five weeks have essentially been a train wreck.

However, there is currently no clear evidence that Musk has submitted any party registration documents, and he himself has denied any official application to the election committee. Nevertheless, given his reputation and financial resources, he is likely to have a substantial impact on the 2026 U.S. midterm elections, leading the public to wonder whether Musk's political experiment will truly be effective.

Additionally, around 12:30 AM on the 8th, Trump announced a 25% tariff on South Korea and stated that he would also impose a 25% tariff on Japan. Following this news, the U.S. dollar index rose sharply, while U.S. stocks and Bitcoin prices fell in response. As of the time of writing, Bitcoin is priced at $108,086, with a decline of approximately 0.72% in the last 24 hours.

Bitcoin Four-Hour Chart

The current price is testing the middle Bollinger Band support near $108,000. From the Bollinger Band pattern, the upper line has started to turn downwards, while the lower line is slightly widening, indicating that market volatility may increase in the future. If the price effectively breaks below the middle support, it is likely to seek support near the lower band at $106,000.

From the KDJ indicator perspective, both the K line and D line have fallen below the 50 level, while the J line has crossed down through the K and D lines, forming a death cross, indicating strong short-term bearish momentum, with no clear signs of a bottom yet.

The MACD indicator also signals a bearish trend, with the DIF line crossing below the DEA line to form a death cross, and the MACD histogram turning from red to green, indicating that bearish forces are dominant, with further downside potential in the short term.

Fibonacci retracement analysis shows that the price has retreated from a high of $110,575 and is currently testing the 23.6% retracement level around $107,660. If this support fails, the next key support level will look down to the 38.2% retracement level at $105,857, and it may even test the 50% retracement level at $104,400. Overall, technical indicators generally present bearish signals.

In summary, the following suggestions are provided for reference:

Short Bitcoin at the current price ($108,086), add to the short position if it effectively breaks below $107,660, and take profit in batches between $104,400 and $105,880.

Long Bitcoin if it retraces to $104,400, targeting $109,000 to $109,800.

Instead of giving you a 100% accurate suggestion, I prefer to provide you with the right mindset and trend. After all, teaching a person to fish is better than giving them fish; the goal is to earn for a lifetime. Focus on the mindset, grasping the trend, and planning your market layout and positions. What I can do is use my practical experience to help you, guiding your investment decisions and management in the right direction.

Writing time: (2025-07-08, 00:20)

(Written by - Master Says Coin) Disclaimer: Online publication has delays; the above suggestions are for reference only. The author is dedicated to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks, with years of experience in the financial market and rich practical operation experience. Investment carries risks; proceed with caution. For more real-time market analysis, please follow the official account Master Says Coin for discussion and exchange.

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