About BTC:
Yesterday, the price fluctuated widely, with the highest close to 58,300 and the lowest near 54,300. After rebounding, the price tested the pressure of the 200-day moving average again, and then fell again. For Bitcoin, the 200-day moving average has become the turning point or dividing point of the recent long-short situation. If the price recovers above the 200-day moving average, it means that there may be a downward trend in the short and medium term; on the contrary, if the price is below the 200-day moving average, it implies continued weakness.
Today, Bitcoin is likely to continue to fluctuate between 54,500 and 58,000. The short-term trend is volatile, while the medium-term trend remains downward. Pay attention to the support below at 52,000 and 47,000. In terms of operation, it is recommended to avoid chasing long near 58,000 and not chasing short near 54,500. However, it should be noted that the Ethereum ETF may be listed next Monday, which may have an impact on the market.
About ETH:
For Ethereum, the focus we need to pay attention to this week is still the news of the ETF. The specific time of the Ethereum ETF has been changed several times, from July 2 to the 4th, 8th, and finally to the 15th, which is next Monday.
If the support level of 2800 can be maintained before the 15th, it is highly likely that it will not fall to 2450. At the same time, the same is true for Bitcoin. If it fails to fall to around 52,000 before the 15th of this month, it may rebound strongly driven by Ethereum. Although the rebound may not necessarily lead to a bullish trend for Bitcoin, it can make 53,200 a solid support.
In addition, although Bitcoin fell below the important support level of 58,000 last week, Ethereum did not do so, and the important support level of 2,800 was not broken. Therefore, it is still necessary to pay close attention to the changes in the price of Ethereum this week. If it fails to fall below 2,800, this level is very likely to become a low support.
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