Master's Hot Topics:

Macro perspective for this week: Will the US non-farm payroll in June significantly cool down as scheduled? Powell and Lagarde will deliver speeches at the European Central Bank forum, and multiple countries will release PMI data. The Federal Reserve will also release the latest meeting minutes. In addition, attention will be paid to the 2024 World Artificial Intelligence Conference, as well as the UK and French elections.

Last week, Bitcoin ETF saw a net inflow of 73 million, maintaining a good state of continuous inflow for 4 days. However, considering the relatively small daily inflow of funds, the total inflow for the entire last week was only 37.3 million.

The good news is that BlackRock finally ended its 10-day streak of zero inflows. Whether BlackRock, as the absolute leader, can continue to buy will be a key factor in this week's market trend.

There is a lot of news about Ethereum ETF. First, the SEC review continues, and the S-1 form has been submitted to the issuer, accompanied by a few comments. It seems that there will be another round of review, so Bloomberg analysts have postponed the ETF approval time to July 8.

In yesterday's article, Master placed a long position in the 62400-62800 range. The market fell to near 62500 at the lowest point last night at 9 o'clock. Subsequently, it rebounded to near 63849, and Master took a profit of 1000 points in the long position as mentioned in the article!

Master's Trend Analysis:

BTC 4-hour chart:

Bitcoin has currently broken through the long-term downtrend line and continues to rise. Master believes that an N-shaped upward trend can be expected in the near future, maintaining the view of a short-term rebound.

If the RSI indicator approaches the oversold zone, considering a short-term adjustment, it is a good choice to look for opportunities to trade in the adjustment range.

The market generally believes that this is a rebound range after the low point, and there may be buying interest. However, in the absence of positive news for the rebound, it is advisable to operate against the trend.

Resistance levels to consider:

First resistance level: 63400

Second resistance level: 64380

Within the range of breaking through the first resistance level, the probability of retesting 64K will also increase, so a small upward trend can be expected.

As the market is currently testing the high point, it is recommended to observe whether the high point test is successful and whether it will form a flag pattern.

Support levels to consider:

First support level: 62600

Second support level: 62000

The first support level is the low point area after the rise, so it must be held steady to maintain the view of a short-term rebound.

If it falls below the first support level, further adjustments will occur due to the lower low, so 62K is also a suitable buying area in terms of risk-reward ratio.

Today's Trading Suggestions:

In today's trading, the chart has turned into an upward trend and maintains the view of a rebound.

Pay attention to the trend of the 60-day moving average. If the trading volume is small during the adjustment, the first and second support levels can be considered as buying opportunities. Master believes that this is also a suitable buying area in terms of risk-reward ratio.

Please refer to these suggestions when trading

Master's Short-term Pre-set Orders on July 2:

Long entry reference: 61600-62000 range, staggered long positions, defend 500 points, target 62600-63400

Short entry reference: 64380-64780 range, staggered short positions, defend 500 points, target 63400-62600

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to learn more about real-time investment strategies, how to get out of a predicament, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. I hope to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% going with the trend; daily updates on macro analysis articles across the web, technical analysis of mainstream coins and altcoins, and spot medium to long-term replay price prediction videos.

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