#BTC
《Trend Changes — Current Market Analysis》
Ethereum broke through 2500 but has not stabilized, still being suppressed by the resistance around 2520. Ethereum's pullback is accompanied by an overall decline in altcoins, and the well-formed pattern has been damaged. It cannot effectively stabilize above 2400. If it tests again, Ethereum's strong support will be around 2280, which is the time for altcoins to accumulate.
Bitcoin's breakthrough momentum has gradually weakened. Today it tested the support around 105000. There is still a resistance around 107200 at a smaller level. If it can stabilize above 105000, we can still see a trend towards 110000. Currently, it remains in a volatile trend.
This week, we need to pay attention to the unemployment rate, non-farm payrolls, and unemployment benefits data at 8:30 PM on Thursday. Based on current market expectations, there is a hope that the unemployment rate will rise and employment numbers will fall, which would prompt the Federal Reserve to cut interest rates sooner. If expectations are not met, the probability of a rate cut in July will decrease, and the market may experience another drop.
Altcoins still have limited operational space. To gain a few points in an increase, one must bear losses of over ten points. Such a risk-reward ratio is not as good as waiting and observing. It is difficult for everyone; preserving more capital and not incurring losses will already surpass 90% of people in this market.