A new week, I wish you all a happy Dragon Boat Festival!

From the trend in recent days, it is not difficult to see that Bitcoin and Ethereum are in a narrow range of shocks and repairs. The bulls and bears have not been able to continue in the past two days. The main reason for the decline on Saturday was also caused by the non-agricultural data, and the possibility of a rate cut in September has been re-evaluated.

The CPI data will be released on Wednesday this week, and the dot plot will also be released at that time. We can see the Fed's expectations for rate cuts this year, and we have a rough expectation of when to cut interest rates. Then this is the time for the market to start again.

The long-order ideas we shared on Saturday, Bitcoin has initially completed profits, and the MA60 moving average support has successfully given the opportunity to enter the market at 69,300. There is currently a profit of 400 points. The upper pressure can focus on the vicinity of 69,800-70,300 to exit first. If the position is sufficient, you can reduce the position first and retain part of it.

Ether On the other hand, the daily line support 3650 is given below. There are several bottoming outs here during the weekend. Those who pay attention to it also have the opportunity to get on board. Those who don’t get on board can continue to pay attention to the retracement opportunities. The upper suppression 3700 has no entity breakthrough, and it is also the suppression of the four-hour MA7 daily moving average. If it can break through and stabilize here, the bulls can go out of part of the continuation again, and long orders can also participate appropriately.

From the overall trend, after being affected by the news in the early morning of Saturday, the price has always fluctuated in a narrow range around the small range after the price pierced the bottom. The bottom support is also relatively obvious. The price has not fallen significantly so far over the weekend, including Monday. Overall, the bulls are still relatively optimistic. The subsequent breakthrough of the range and the impact of this week’s CPI data can be seen!