The ceasefire between Israel and Palestine has temporarily paused the Middle East conflict, and the cryptocurrency market immediately focuses on the Federal Reserve's interest rate cuts and trade negotiations. The market is closely watching the Federal Reserve's tug-of-war: Powell says 'wait and see', but Wall Street is hotly speculating on rate cut expectations. Trade negotiations are also replaying the 'old script', leaving investors overwhelmed. Cryptocurrency prices are performing awkwardly; although the US dollar is weakening and Friday's PCE data paves the way for three rate cuts, prices are still suppressed, ignoring the positive news. After Powell previously 'doused cold water' on the market, it treats the cryptocurrency market like a temperamental child, indifferent to good news, insisting on a 'standoff' with the Federal Reserve. It seems next week's market will have a good show, and everyone is waiting to see.
On the weekly structure, since the price has strengthened in 2024, it has been hard to see more than two bearish candles. In this regard, there is a good chance of a bullish reversal next week. However, as the current decline has not formed a bottom signal, it is not ruled out that the market may first decline and then rise, showing a pattern of first suppression and then rise. Currently, in short-term weekend operations, the daily level shows that cryptocurrency prices are consolidating around 107000, with a slight upward trend overall, but momentum is weakening. The hourly level has shown multiple upper shadows, indicating strong selling pressure above, while prices have not effectively broken through the previous high of 107500. The MACD on the hourly chart is below the zero line, with the histogram shortening, indicating that the bearish strength is gradually weakening but has not yet turned into a clear bullish trend. The RSI on the hourly chart shows a value of 52.27, close to the neutral area, indicating that the current market sentiment is balanced, with no obvious overbought or oversold signals. The 7-period EMA (107324) and the 30-period EMA (107280) maintain a golden cross state, providing strong short-term support; the 120-period EMA (106624) is far from the current price, and the long-term trend still looks bullish.
Weekly Yanling 6.29 Bitcoin short-term trading strategy:
1. Short at 107800-107400, stop loss above 108500, target around 106700.
2. Long at 106500-106800, stop loss below 106000, target 107300-107800.
Weekly Yanling 6.29 Ethereum short-term trading strategy:
1. Long at 2380-2410, stop loss below 2350, target 2440-2470, continue to look for upward movement around 2540.
2. Light short at 2500-2470, stop loss above 2530, target 2420-2390.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and strategies may lack timeliness; specific operations should follow Yanling's real-time strategies.】$$BTC $ETH
