Recent news shows that Fed Governor Waller expressed support for raising interest rates at the July meeting and believed that pressure in the banking industry would not derail the economy. He said that although the CPI data has cooled, it is necessary to observe whether this situation can continue because there have been false signs of inflation before. However, Waller emphasized that the banking industry is strong and resilient, and although the job market has slowed down, it is still very strong. He believes that changes in monetary policy are affecting the economy faster, and past interest rate hikes have already had an impact on the economy. Fighting inflation remains the main goal of the Fed, and the strong job market and economy provide the Fed with room for further interest rate hikes.
The large-cycle daily level of Bitcoin (BTC) shows that the price has successfully broken through the previous high. The attached indicator shows that the short-term momentum has weakened, and the fast and slow lines show signs of a golden cross. However, since the trend is not obvious, investors need to pay attention to risks. On the short-term hourly chart, the price continues to rise, but is currently consolidating at a high level. The K-line pattern has fallen continuously. The attached indicator shows that the bullish momentum has weakened and there are signs of a dead cross. It is expected that the low support of the retracement correction is in the 31,000 area, and the high support is in the 31,800 area. Therefore, for short-term trading strategies, it is recommended to consider long entry when the 31,000 area retreats, and set a stop loss in the 30,700 area.
Ethereum (ETH) large-cycle daily level shows that the price has successfully broken through the previous high. Although the K-line pattern shows a single Yin and a single Yang, the price is still strong. The attached indicator changes from a dead cross to a golden cross upward, showing that the current trend is still strong. On the short-cycle hourly chart, the price retreated to the 2030 area after the rebound in the US market, and the K-line continued to fall. The attached indicator shows signs of a dead cross. It is expected that there may be a retracement and correction trend during the day, with support near the 1970 area and strong support in the 1930 area. Therefore, for short-term trading strategies, it is recommended to consider long entry when the 1970 area retreats, and set the stop loss in the 1945 area, with the target range in the 2015-2030 area.