Master Chat Hotspot:
The annual core PCE price index for June in the United States, released last night, recorded 2.6%, higher than expected.
Currently, the market generally expects the Federal Reserve to maintain interest rates in July and to begin cutting interest rates in September.
eToro analysts also stated: The PCE data released yesterday will lay the foundation for Powell's expected interest rate cut in September.
In addition, US presidential candidate Kennedy stated, "I have learned that President Trump may announce his plan tomorrow, authorizing the US government to purchase one million bitcoins as strategic reserve assets. I appreciate this statement."
At the same time, he also stated that most of his wealth has been invested in Bitcoin and he will devote himself wholeheartedly to it.
The current market narrative is the Bitcoin Consensus Conference, and everyone is anticipating Trump's speech, wondering if he will indeed designate Bitcoin as a strategic reserve asset.
Master's Trend Analysis:
BTC 4-hour:
As mentioned in the closing briefing for Master's students last night, the high resistance level of 68.2K was not broken through, and the price is currently in a consolidation phase.
Due to the previous significant rise, there may be a trend of bottoming out before rising again.
It is also necessary to pay attention to the support level and observe whether the resistance level is broken, as Master believes that all short-term bullish news is already reflected in the price.
Resistance Level Reference:
First Resistance Level: 68200
Second Resistance Level: 69000
Since the first resistance level has continued to face resistance and formed a triple top pattern, if it is broken through, a significant rise can be expected.
However, if the trading volume is insufficient and the level is not broken through, there may be profit-taking and selling at the high level, so 68.2k is an important resistance level.
Support Level Reference:
First Support Level: 66400
Second Support Level: 65700
In the short term, attention can be paid to the trend of the 20-day moving average. Master expects a correction to the vicinity of the first support level, and trading can be conducted within this range.
If the current high point is not broken through again, the price of the coin is expected to adjust to the first support level, which can be seen as an opportunity for short-term entry.
Today's Trading Suggestions:
Considering that today is Saturday, it is expected that the market will mainly consolidate.
Although the view of consolidation can be maintained, due to the current chart being in a consolidation phase after an uptrend, the view of buying after a pullback can still be maintained.
7.27 Master's Short-term Pre-set Orders:
Long Entry Reference: 66000-66400 range for phased long entry, defend 500 points, target 67400-68200
Short Entry Reference: 69000-69400 range for phased short entry, defend 500 points, target 68200-68400
This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to understand more real-time investment strategies, untangling, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication, hoping 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 indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.
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