Hot topics of Master Chat:
The U.S. core PCE price index for June released last night was 2.6% year-on-year, higher than expected.
The market currently generally expects the Federal Reserve to keep interest rates unchanged in July and start cutting interest rates in September.
eToro analysts also said: The PCE data released yesterday will lay the foundation for Powell's expected interest rate cut in September.
In addition, US presidential candidate Kennedy said, I understand that President Trump may announce his plan tomorrow to authorize the US government to purchase one million bitcoins as a strategic reserve asset, and I appreciate this statement.
At the same time, he also said that most of his wealth is invested in Bitcoin and he will devote himself to it.
The current market narrative is the Bitcoin Consensus Conference. Everyone is anticipating Trump’s speech when he takes office, and whether he will really use Bitcoin as a strategic reserve asset.
Master looks at the trend:
BTC 4 hours:
The high resistance level of 68.2K mentioned in the closing briefing of the Master’s students last night failed to be broken and is currently in a sideways consolidation state.
Since there has been a large increase before, there may be a trend of rising again after bottoming out.
In addition, we also need to pay attention to the support level and observe whether the resistance level is broken, because I believe that all the good news in the short term has been reflected in the price.
Resistance level reference:
First resistance level: 68200
Second resistance level: 69000
Since the first resistance level continues to be resisted and forms a triple top pattern, a sharp rise can be expected if it is broken.
However, if the trading volume is insufficient and fails to break through, there may be profit-taking and selling of high-level chips, so 68.2k is an important resistance level.
Support level reference:
First support level: 66400
Second support level: 65700
In the short term, you can pay attention to the trend of the 20-day moving average. It is expected to adjust to near the first support level, and you can also trade based on this range.
If the current high fails to be broken again, the price of the currency is expected to adjust to the first support level and be regarded as an opportunity for ultra-short-term entry.
Today's trading suggestions:
Considering that today is Saturday, it is expected that the market will mainly move sideways.
Although the view of sideways consolidation can be maintained, since the current chart is in a sideways consolidation state after an uptrend, the bullish view after a pullback can still be maintained.
7.27 Master's short-term pre-buried order:
Long entry reference: 66000-66400 range, long in batches, defense 500 points, target 67400-68200
Reference for short entry: short in batches between 69000-69400, defense 500 points, target 68200-68400
