6.29 Monday Midday Market Analysis.

From the daily and 4-hour structure, ETH is still running in a clear bearish channel, the trend has not changed, and the bearish structure remains dominant.
After a weekend rebound to the 1610 area, it quickly pulled back to oscillate around 1560-1580. This phase is essentially not a bottoming but a typical continuation pattern of downtrend — corrective bounce + liquidity redistribution.
Many people are prone to misjudgment here, thinking the market has stabilized, but from the structure, the inability to sustain the rally itself indicates that the trend has not changed.
As long as the correction ends, the market will likely return to its original downward rhythm and continue testing the liquidity zone downward.
From a larger cycle perspective, the current market is still in a consolidation phase with limited volatility, but the overall rebound momentum continues to weaken, and market sentiment remains cautious.
The core strategy this week remains: weak oscillation, wait for a genuine bottoming structure to appear, rather than guessing the bottom prematurely.
In terms of news, focus on the evolution of the US-Iran situation this week.
Although the previous agreement has been partially implemented, there may still be back-and-forth. Market risk aversion has increased significantly with news fluctuations, and uncertainty remains high.
At the same time, there are two key time points this week:
Wednesday: Central bank governors from multiple countries speak together; the market will watch for new monetary policy signals.
Thursday: US non-farm payroll data release, which will directly affect the market's judgment on liquidity expectations.
From a capital perspective, crypto ETFs have seen a cumulative net outflow of about $1.9 billion in the past 5 days, indicating that institutions continue to reduce risk exposure, and the overall defensive stance remains unchanged.
BTC trading suggestions: Short near 60200, add to position at 60800, stop loss at 61500, take profit at 59400-58600.
ETH trading suggestions: Short near 1590, add to position at 1620, stop loss at 1650, take profit at 1565-1530