July 3 - Bitcoin & Ethereum Trend Analysis

BTC is currently walking a tight line in the major support area (near 60400). Yesterday's daily K showed an engulfing pattern. Yesterday, the big players were all selling. The short-term moving average is arranged in a short position. RSI: 39.7, MACD fast and slow lines are below the 0 axis, and it is almost golden cross. At this time, the dealer likes to catch the mentality of retail investors. Retail investors will think that it is going to be golden cross. The dealer will generally cut leeks at this time. Today is a day with intensive macro data. You can pay attention to the small non-agricultural and the number of initial and continued unemployment benefits tonight. Tomorrow is the Independence Day holiday in the United States, and the FOMC meeting minutes will be released at 2 am tomorrow.

ETH's major support is in the 3340-3365 range. Yesterday's daily K showed an engulfing pattern, and the moving average was short. Judging from the trading volume, some people bought yesterday, but sold more. MACD fast and slow lines are still below the 0 axis, RSI: 41, and the trend is weak. We have not seen a strong rebound yet. The focus needs to be on the listing time and news of ETH spot ETF, which is expected to be listed in July.

BTC can consider opening long positions around 60400, which is a strong support area and is expected to rebound. The take profit is around 62000, and the stop loss can be arranged around 60000. For reference only. The above analysis is only a personal opinion and is not any investment advice.