7.11 Market Sharing

Technical side:

Yesterday morning class reminded everyone that it would maintain back and forth fluctuations, and it is indeed the case at present. At the close of today's morning session, the market still received below 58400. For the market, the rebound is not strong enough, and it still needs to maintain fluctuations at this position. The last critical point is still 58400, with a strong resistance of 60,000 above and a support of 56200 below

Ethereum is relatively strong overall, and it is currently fluctuating in a narrow range, with a narrow range of fluctuations between 3084 and 3130. In the end, it depends on whether it breaks through or falls below, but this position still sees a rebound and cannot constitute a reversal. The strong resistance above is 3270, and the support below is 3084~2980. According to market expectations, the Ethereum ETF is expected to pass on July 18. For the secondary market, extending the time period is more conducive to the accumulation of funds by the market makers.

We should patiently wait for the general direction to stabilize, so we should control the positions at this time point, and then use part of the positions to build positions on the right side. However, the market situation is uncertain and unclear, so we need more time to learn and settle down, and patiently wait for the arrival of the market. It happens that we have such offline sharing sessions on the 17th and 19th, and everyone is welcome to participate!

News:

The probability of the Fed keeping interest rates unchanged in August is 94.3%

Bloomberg ETF analyst: The US SEC may approve the spot Ethereum ETF on July 18

7.11   Initial jobless claims for the week, June CPI data

Sun Yuchen's address bought 1,621 ETH again

Fed Chairman Powell said in a speech that the Fed has made considerable progress in inflation and the Fed does not need inflation to be below 2% before cutting interest rates

Trump will attend the Bitcoin 2024 conference in Nashville to give a speech

CME Fed Watch: The probability of a 25 basis point rate cut in September is 71.8%

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