6.21 Market Analysis

This Wednesday morning, we clearly reminded everyone that there will be a rebound on Wednesday and Thursday. If it goes as we expected, we will also remind everyone that it will not go far. Yesterday, the big cake rebounded to the downward trend line that has been emphasized above and drew a door. Now it has come to the lower support level. This position has been reminding everyone that 64000 will not break through so quickly. In the short term, it is still expected to fluctuate between 64000 and 65700. After the fluctuation, it will cooperate with the four-hour downward trend line to the triangle position to choose to break through or break through upward or downward. Therefore, the current market is only suitable for swing trading. The weekly level has not been repaired in place. The short-term lower support of 64700 will not fall below this position. There will be a small rebound. Pay attention to the lower support of 64700 and 64100, and the upper resistance of 65700 and 66000. Ethereum is currently in a relay shock after a wave of market declines. Pay attention to the lower support of 3497~3470~3388 and the upper resistance of 3566~3610~3650. Wait patiently for the general direction to stabilize. The opening of a big market must require a period of shock repair before it can start

News:

PMI data released at 9:45 on Friday

Next, we will focus on the release of unemployment benefits and CPI data on July 11.

Fed officials delivered a bearish speech last night. Kashkari said that wage growth is too high and inflation may take up to two years to drop to 2%

Bloomberg analyst James Seyffar wrote that 3iQ has just submitted an application to launch Solana ETF in Canada using the code QSOL. This is also the first Solana ETF application in North America

Ethereum news:

1. The SEC has permanently suspended its investigation into Ethereum, which means that ETH is not a security, increasing the probability of ETF approval

2. July 2 is the S-1s registration document time for ETH ETF

3. August 7 is the resolution time for BlackRock ETH ETF application

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