Although the market fell so much last week, the macro situation is still good recently.

The US stock market has been setting new highs in the past few days. At present, CME's expectations for interest rate cuts have increased again. Now the September interest rate cut may be close to 80%, which is nearly 20 percentage points higher than the low point last week.

If the CPI and PPI on Thursday and Friday this week can fall as expected, then the possibility of a September interest rate cut is likely to go straight to 90%. In this way, there will be a two-month window for speculation on interest rate cuts. Both the US stock market and the currency circle may usher in a lot of good news again.

In addition, various institutions including Bloomberg now believe that the Ethereum spot ETF will be approved this week, and all ETF applicants have completed the final submission of S-1.

Now various companies have begun to engage in price wars on fees. This situation is very similar to the situation before the BTCETF was passed. Ethereum has successfully stood at $3,000 against the background of the market rebound, and the ETH/BTC exchange rate has also rebounded to 0.535.

Bitcoin is currently continuing to rebound and maintain an upward trend. If it fails to break through the recent highs, it may deviate from the upward trend.

Resistance level reference:
First resistance level: 59900
Second resistance level: 60500
If Bitcoin wants to continue to rebound, it must break through the first resistance level. And only by breaking through the high point after the pullback (i.e. the second resistance level) can the rebound view be maintained.
If the second resistance level is broken, an upward trend can be expected. If the volume is insufficient during the backtest, it is necessary to view it from the perspective of re-adjustment.

Support level reference:
First support level: 57500
Second support level: 56800
Before the currency price reaches the first support level, it is necessary to pay attention to whether it remains above the 20-day moving average and the rising trend line.

Currently, the currency price stays near the short-term rising trend line and the 20-day moving average, so there may be a market deviation. Please pay attention to this and regard the 20-day moving average and the rising trend line as a good risk-reward area.

Today's trading suggestions:
Maintain a short-term upward view, pay attention to the volume in the first and second resistance ranges, and operate by buying long on pullbacks or buying on breakthroughs.
Due to the current insufficient trading volume, the probability of breaking through the first and second resistances is low, so it may deviate from the upward trend in the short term.

If it deviates from the short-term upward trend, it can be regarded as a callback range and seek a better entry point $BTC $ETH $BNB