6.20 Market Analysis
Technical Analysis:
Yesterday's early trading clearly reminded everyone that there would be a small rebound yesterday, but the market is just as we expected in our analysis. There will be a small rebound in the current market, but the strength of the rebound is limited. The defensive position below the big cake is still the short-term resistance level of 65700 and 66700 above 64100. In the short term, it will fluctuate and fluctuate upward at this position, break the upper resistance, and then adjust.
Ethereum's exchange rate is currently stronger than Bitcoin, so the short-term fluctuation range will be maintained at 3470 to 3650, and the lower defense is still 3388. The lower support is 3470, and the upper strong resistance is 3650 and 3730. The short-term resistance is 3570. If this position can be reached, it will encounter the next pressure. If it cannot reach this position, it will have a small-scale retracement. At this moment, this position still looks like a rebound, not a reversal. Therefore, the short-term strategy should be strictly implemented, low-buy and high-sell, and patiently wait for the general direction to stabilize.
News:
PMI data released at 9:45 on Friday
Next, we will focus on the release of unemployment benefits and CPI data on July 11.
Ethereum news:
1. The SEC has permanently suspended its investigation into Ethereum, which means that ETH is not a security, increasing the probability of ETF approval
2. July 2 is the S-1s registration document date for ETH ETF
3. August 7 is the resolution date for BlackRock's ETH ETF application
