The European Cup has officially ended, and some funds will flow back into the cryptocurrency circle. Ethereum ETF may be listed this week, ushering in a wave of rebound. Many US banks said that the probability of a rate cut in September continues to increase. Due to the assassination of Trump, Bitcoin has risen by about 10% in the past three days, and Ethereum has also risen by about 10% in the past three days. Trump-related meme currencies have even risen by more than 50%.

However, it is worth noting that this wave of rise is driven by news. From the technical indicators, there is no condition for reversal, so it is better to be cautious. The weekly level Ant Channel lifeline support level is around 49,600, and the MACD fast and slow lines are very high. This kind of mentality of bullish on a rebound and bearish on a pullback is the easiest to chase up and sell down.

Before there is a strong and large-scale breakthrough of $63,800, I still maintain a bearish view. The daily level Ant Channel has just come out for less than a month, and according to the cycle theory, there should be another drop. Pay attention to whether the EMA200 daily moving average of $58,200 will be broken! The 4-hour level of the main ant wave of decline has been completed, and it is currently entering a downturn. Keep watching the pressure level of 63,800. If it fails to break through, it will continue to drop below 58,200. Observe the market trend at any time, assess the situation, and wait for an opportunity!

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