#ETH
《Data Disappointments — Is the Market Coming to an End?》
The data released at 8:30 is all negative, but the market fluctuations are not significant. Bitcoin is oscillating at a high level near the resistance of 111,000. This wave of corrections in altcoins has resulted in a sea of red. The non-farm payroll and unemployment rate are far below expectations, and the probability of interest rate cuts in July has decreased significantly. This wave of the market may have reached its peak in the short term.
The resistance for Bitcoin is at the position of 111,000. The support levels are at the way back, around 107,000 and 105,000, both of which are support levels. In terms of the current trend of Bitcoin, it can no longer be viewed as bullish.
Ethereum has stood at the resistance of around 2,520. Given the resistance reached by Bitcoin, the probability of Ethereum continuing to catch up is also sharply declining. It is currently in a state of being unable to rise or fall, hanging in mid-air. This is also a factor for reducing positions in altcoins, with current support around the 2,500 mark.
Overall, with Bitcoin reaching a strong resistance level and the low probability of Ethereum catching up, considering the current market situation, this round of the market is also nearing its end. Everyone should pay attention to the risk of corrections, take this opportunity to reduce positions at high levels, and retain the bottom positions. If you want to change positions, you can liquidate and wait for opportunities.