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Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: July 7, 13:56 Beijing time
Market Information
- Wuxi Municipal Party Committee reform task promotion meeting: Exploring practical paths for stablecoins to empower foreign trade development;
- Bitcoin holding trend differentiation: "Shark" level holding addresses hit a new high;
- Musk: "American Party" will embrace Bitcoin, fiat currency has no hope;
- Tesla's US stock night trading once fell over 7%, after Musk announced the establishment of a new political party;
- The US House of Representatives fundraising committee will discuss the cryptocurrency tax framework at a hearing on Wednesday;
- UAE authorities clarify: Gold visa issuance qualifications do not include digital currency investors;
Market Review
Last night, Bitcoin rebounded as expected, with the current rebound high at the 109,684 position, and Ethereum's rebound high at the 2,607 position, basically in line with expectations;
Market Analysis
Bitcoin:
Yesterday, we predicted that the market would rebound after fluctuating near support, and it did rebound during the day, but it did not stand above 110,000, with profits for long positions only around 1,000-2,000 points. It can still be held, and the rebound will continue; on the 4-hour line, the previous first rebound from 98,115 had very weak downward momentum and did not provide an effective pullback. The market is expected to break through the 4-hour high of 108,783. The second rebound from 105,010-110,484 also did not provide effective pullback momentum. The lack of a pullback support zone after the rebound indicates that the market is in a strong bullish trend. Currently, Bitcoin is rebounding, and there is a high chance of breaking through the 110,484 position. After breaking through, the next resistance will be in the 112,000-113,000 range. From the market perspective, there should be a slight pullback during the day, and after the pullback, it will continue to rise. The long positions from yesterday's article can still be held, and those who exited can re-enter in the 108,000-107,500 range. The target remains above 110,000; please grasp the entry opportunities yourself. For short-term trading, control risks and manage profits and losses independently;
Ethereum:
From the daily chart, Ethereum's trend also meets expectations. Over the weekend, the market fluctuated near the 200-day moving average. If the moving average stabilizes, it can serve as support for long positions. The long positions near 2,500 yesterday had a maximum profit of about 100 points, and currently, there are 70 points. You can reduce your position and continue to hold. If you exited, you can re-enter near 2,500. The target remains at 2,650-2,700. Ethereum is still fluctuating around the 2,425-2,750 range, and in the short term, it is better to focus on low long positions. Please grasp the opportunities yourself; for short-term trading, control risks and manage profits and losses independently;
In summary:
Bitcoin and Ethereum are currently still in a strong bullish trend; enter the market during pullbacks;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cup." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.
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