Tonight (July 3) at 20:30, despite all three data points being bearish! However, Bitcoin still surged to the previous high around 110,529, and the reason is clear: when the data was released at 20:30, many small and medium investors as well as retail investors saw the bearish data, and the first instinct was to short immediately or increase their short positions. However, major institutions often think in the opposite direction and act contrary to the crowd, a consistent strategy of driving up prices to liquidate short positions. Currently, an overall technical analysis and on-chain data show that the main players are still offloading heavily at high levels, and a significant amount of capital is fleeing!!
It is tentatively predicted that around July 8, there may be a relatively larger pullback for a washout, as it is basically certain that there will not be an interest rate cut in July, and it is uncertain for September. There is only a possibility of an interest rate cut in September. The specifics are hard to say! Therefore, it is still recommended to strictly manage positions during this period and to avoid using high leverage (contracts) as much as possible; it is better to seek stability and victory!
Finally, I wish everyone profitable trades every day and wealth every day 🤑
