Hot topics of Master Chat:

ETH is being dragged down by the market, and there is nothing ETH can do about it. Bloomberg has brought forward its expectations for the ETF’s approval, and analysts now believe it will be listed next week.

The reason is that Bitwise submitted the revised S-1 form in advance, a few days earlier than the deadline on July 8. This advance time may prompt the Ethereum ETF to be listed next week. Of course, the early approval of the ETF is not a good thing. On the contrary, it will shorten the hype window of the ETF.

In addition, with the overall market correction, MicroStrategy's Bitcoin holdings' current floating profit has fallen from a high of nearly $10 billion to about $5 billion.

Master looks at the trend:

BTC daily chart:

Bitcoin has fallen to its lowest level in two months, with the price of the cryptocurrency falling as concerns mount that funds from Mount Gox are starting to be repaid and funds are being transferred to wallets.

In addition, Israel's problems increased geopolitical risks and the market came under selling pressure.

According to the chart analysis, if it falls below the lower track of the daily line, the decline will increase significantly.

Resistance level reference:

First resistance level: 54800

Second resistance level: 53400

If the price breaks through the first resistance, a short-term rebound can be expected due to the formation of a lower shadow at the bottom of the K-line, and the probability of retesting 56K increases.

Since the selling pressure is still strong, when testing 56K, we must pay attention to the shape of the K-line and whether the trading volume increases!

Support level reference:

First support level: 54800

Second support level: 53400

The first support line is a short-term low point. If it falls below, the downward space will be opened. The maximum downward target is 52K, but at present, the second support level will still be set as an important support.

After the RSI indicator is oversold, pay attention to whether the currency price will rebound slightly upward and look for ultra-short-term trading opportunities.

Today's trading suggestions:

In today's trading, due to the sharp decline, the main operation is still based on the bearish view within the rebound range.

The support line mentioned above is a good risk-return ratio area, so ultra-short-term operations are ideal. At the same time, you can pay attention to whether a higher low will be formed in the small-level trend and respond in real time.

Please refer to these suggestions when trading

7.5 Master's short-term pre-buried order:

Long entry position reference: 53000-53400 range long in batches, defense 500 points, target 54800-55900 (light position)

Reference for short entry: short in batches between 55900 and 56300, defense 500 points, target 54800-54000#BTC走势分析 #非农就业数据即将公布 #BTC走勢分析 #BTC☀️