Jiangfeng Capital: July 1 BTC/ETH Market Morning Report: Bitcoin faces pressure again at the 60,000 mark, hovering around nearby highs.

CN
2 hours ago

Yesterday, after Bitcoin fell below 58,000, it quickly recovered. The strength of the bottom-fishing army is still quite strong, currently around 594,000, but the resistance near the 60,000 mark remains solid. The strategy remains unchanged, still treating it as a high-short opportunity.

Today's view: Light position.

BTC reference upper resistance around 59,666 – 60,500 ~ 61,200, target reference lower support around 58,000 ~ 57,500 ~ 56,400 ~ 53,500.

ETH: Reference current price around 1,600 resistance and 1,622 ~ 1,638 resistance, target reference lower support around 1,550 ~ 1,500 ~ 1,480 ~ 1,425 ~ 1,370.

Short position logic:

The price of Bitcoin has reached the daily Bollinger lower band near 57,750, providing some support; however, the lower band is still opening downward, indicating that there is still space for decline. The upper area near 62,500 faces dual resistance from the 21-day moving average and the middle band of Bollinger. Additionally, the combination of the 21, 55, and 144-day moving averages forms a bearish arrangement. The bearish trend has not changed, and the smaller time frame indicators have a rebound demand. Today's strategy suggests a light position and to wait for prices to rebound before considering high-short positions.

Yesterday's short positions for Bitcoin between 60,000 and 61,200, and Ether around 1,590 to 1,630, have been shared in the group. Currently, there are slight losses, but hold on patiently; there’s no need to panic. It hasn’t been two days yet, and it's about to drop!

Recently, all strategies should avoid heavy positions. This timing is critical, and either side could directly erupt. So remember to participate with light positions! Opportunities arise every day, but if you run out of ammo, it will be difficult to buy the dip later at low prices. Everyone must conserve their strength!

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