I am a bit speechless. The favorable data did not bring about an increase, whether it is the US stock market or #BTC☀ .
In terms of the US stock market, the four major indexes, the Dow Jones rose alone, the Nasdaq, the S&P, and the Russell fell slightly, the 10-year US Treasury yield fell, and the US Treasury price rose slightly.
At present, the market has basically determined the implementation of the expected interest rate cut, and the trading of interest rate cuts has been completed. The next step is to trade the risk market after the interest rate cut is implemented. The rise of US bonds and the slight rise of the Dow Jones are all the effects of the September interest rate cut getting closer and closer. Now the only thing missing is the rise of gold.
The BTC price successfully touched the key position of 61,800 on the daily line after the data. This position was also mentioned in today's market interpretation, and then fell back quickly. The turnover began. The market obviously could not take it in the short term. According to the current trend, we may face a volatile decline afterwards. The amplitude is the current wide range of 61,800-53,300 of the lower track of the daily Bollinger band.
During the period of shock, each rebound will not break through the midline position of the daily line. The position will continue to move down, resulting in a shock and decline situation. You can refer to the trend of the daily line from June 11 to July 12.
This direct decline is a bit beyond my expectations. The original plan was to try to break through 62,400 and then fall back. It's a pity that I hung a short order and missed the opportunity.
However, there is no rush for the time being. The US stock market has just started the first half. I still focus on the trend in the second half of the morning and after the US stock market closes. I hope it can rebound and pick me up.
