7.26 Friday Bitcoin and Ethereum market analysis and operating suggestions
In US trading on Thursday, the number of initial unemployment claims in the US for the week ending July 20 was 235,000, lower than the expected 238,000 and the previous value of 245,000.
In addition, the US GDP and PCE index performed poorly in the second quarter, as both showed unexpected growth, which is very unfavorable for interest rate cuts in September.
At 8:30 tonight, the core personal consumption expenditures index for June in the United States and the University of Michigan sentiment index for July in the United States reached 10 points, and these are the catalysts that raise volatility in the currency circuit September interest rate cuts and excessive consumption, and any news The subsequent does not help lower interest rates will be inflated to infinity.
At this stage
Bitcoin's situation is not entirely clear, it fell below the long and short dividing line and then closed again under top-down conversion pressure, and finally recovered the decline with the help of news. Until it reached the highest point of 67,500 this morning.
Bitcoin previously formed a strong support at the 63,500 line, and today it rose strongly to the 67,500 level. It is currently taking a break at the 67,000 level to make adjustments, and once the 67,500 line is broken, it will accelerate upwards.
However, there is still a broad falling flag-shaped adjustment channel on the daily level. The first thing to bear the brunt of the ongoing uptrend is the pressure line at the top of the channel, the 68,500-69,000 area. The flag shaped channel adjustment usually occurs when the market structure is following, at the moment, interest rate cuts are only expected and have not been implemented yet, so we do not look at breakouts and continue to look at the channel adjustment. Forecast, so we are currently near the pressure zone at the top of the channel, short-term first!
Friday, afternoon practical suggestions
Bitcoin, short 67,200, look at 65,500, defend 68,000.
Ethereum, sold at 3260, eyes 6150, defends at 3308
The above suggestions are for reference only. If you are not sure of the direction and are not good at short runs, you can take the train!
