According to the market analysis on July 8:
BTC analysis:
The 1-hour and 4-hour levels have entered the oversold range, and the daily level is also in an oversold state. The macroeconomic environment and fundamental negative factors still exist, and the hawkish negative factors have caused the market to continue to be sluggish, and the market has not yet shown signs of reversal. The upper resistance of the day is at $57,000-57,500, and the lower support is at $54,000-54,500. It is expected that a second bottoming out is more likely to occur today. It is recommended to wait and see and wait for the market to give a clearer signal.
ETH analysis:
The 1-hour and 4-hour levels have also entered the oversold range, and the daily level also shows an oversold signal. The macroeconomic impact and the on-chain situation are relatively sluggish, and the hawkish negative factors continue to restrict the market rebound. The upper resistance of the day is at $3,000-3,050, and the lower support is at $2,800-2,830. The possibility of a second bottoming out today is high. It is recommended to wait and see and wait for the market to form a clear entry signal.
In summary, the current market is in a downturn, and investors should remain patient, avoid over-trading, and wait for more favorable buying opportunities and clear market signals.
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