Crypto market analysis 7.05 Global stock markets continue to rise, how long can crypto fall?
The US stock market was closed overnight. Today, Friday, the non-agricultural employment data will be released soon. The time to decide the real change has come. Traders are waiting for the non-agricultural data to find clues to the Fed's interest rate cut. Global stock markets have continued to rise this week. Will crypto be brought back on track by the stock market in the end?
The hope of a rate cut in September has been rekindled. The MSCI Global Index continued to hit a new high on Thursday. Employment is insufficient to meet expectations, and the probability of a rate cut in September is increasing.
For the final bad news for the crypto industry, miners are all in a state of loss. They are still losing money without counting the operation and maintenance costs, and the good news is that miners are starting to lose money again.
Daily level market
- The daily level is a large-scale downward trend, with the upper daily level pressure around 60,000 and the lower support around 53,000.
4-hour level market
The 4-hour level encounters pressure above and does not break through and then falls. Wait for the four-hour bottom. The upper pressure position is around 57,000, and wait for support to appear at the bottom.
Intraday level analysis
-----All intraday market conditions, the weekly line has reached the bottom, and the extreme pin position depends on where it will be inserted in the day. Now around 55,000 is already a relatively reasonable range, so the remaining is to wait for liquidity to dry up and macro-favorable conditions to appear.
The intraday level may still fall during the day, with upper pressure around 56,000 and lower support around 54,800 in the short term. Finally, looking at the intraday situation, the large level of Bitcoin is close to bottoming out. It is not impossible to fall again, but it is close to the bottom, and all those who are waiting can slowly prepare.
Spot can safely survive this difficult moment in the history of encryption, and be calm in the face of things. #BTC走势预测
