Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: July 6, 13:11 Beijing time
Market Information
- The U.S. threatens to impose a 17% tariff on EU food exports;
- Chairman of Société Générale: Europe needs to overcome fear and embrace stablecoins;
- Bank of England: Open attitude towards the use of stablecoins for wholesale payments;
- Musk responds that "the election time" is next year;
- Vitalik: The environmental cost of avoiding excessive regional concentration in the crypto space is acceptable, better than the negative impact of mining;
Market Review
Bitcoin's recent trend has been a volatile upward movement, rebounding to 110,500 after a short-term drop to 105,050. Ethereum peaked at 2,635, currently in a volatile trend over the weekend;
Market Analysis
Bitcoin:
On the daily chart, Bitcoin was previously in a downward channel. The short-term drop only reached around 105,050, with a profit of about 3,000 points from the short position near 8,000. The market then surged, breaking above the downward channel. The short-term resistance at 108,000 was breached, approaching the previous short-term high of 110,653. Based on the recent trend, there are no clear signals for a downward movement on the 4-hour and daily levels. Currently, it is above the downward channel, indicating that the downward pressure on Bitcoin will not be strong in the short term. It is recommended to focus on long positions during pullbacks, with an entry point around 107,500, a stop loss at 106,000, and a target above 111,000-113,000. After reaching the target, consider short positions based on the closing situation. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
Ethereum:
On the daily chart, Ethereum's trend has returned to the volatile range of 2,025-2,750. After a long period of volatility, a dense accumulation zone has formed. The market has returned to this range, and there is a significant chance of continued volatility in the future. Currently, the K-line is fluctuating near the 200-day moving average, which can serve as a support level for short-term long positions. Entry can be made around 2,500, with a stop loss at 2,420 and a target in the 2,650-2,700 range. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Both Bitcoin and Ethereum have short-term support, with greater chances for rebounds in the future;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
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 going, every person in the crypto circle.
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