Bitcoin
The overnight release of the US June JOLTs job openings fell to 9.58 million, indicating a slowdown in the labor market and a weakening of market expectations for future interest rate hikes. The Curve incident has caused a slight improvement in market sentiment towards the DeFi sector.
After Bitcoin probed the support near the 120-day moving average of 28,500, a bear trap was formed on the technical level, leading to a standard trend divergence on the hourly chart and subsequently triggering a rebound. The rebound was relatively strong, directly breaking through the previous range of 29,000-29,500. Intraday attention is on the resistance at the key level of 30,000. If it fails to break through effectively, attention will then shift to intraday trading opportunities near the 28,500 support level.
Resistance: First resistance at 30,000, second resistance at 30,500
Support: First support at 29,500, second support at 29,000
Direction: Long
Entry: 29,600-29,500 range
Position: 1/10
Leverage: 10-20 times
Stop-loss: 29,300
Take-profit: Near 30,000
(Analysis is time-sensitive. The above suggestions are for reference and discussion purposes only and should not be used as a basis for trading.)
Ethereum
After being impacted by the Curve incident, Ethereum tested the support at the 1,800 level yesterday. Subsequently, it rebounded as market sentiment improved, reclaiming the 120-day half-year moving average and is currently operating within the previous range of 1,850-1,900. Intraday focus is on the resistance near 1,900.
Resistance: First resistance at 1,900, second resistance at 1,950
Support: First support at 1,850, second support at 1,800
Direction: Long
Entry: Near 1,850
Position: 1/10
Leverage: 10-20
Stop-loss: 1,830
Take-profit: 1,890
(Analysis is time-sensitive. The above suggestions are for reference and discussion purposes only and should not be used as a basis for trading.)
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