June 29 BTC/ETH Morning Market Report: Continuation pattern of a downtrend in the repair phase, definitely not a bottom reversal. The bottom is at the following levels (with spot bottom-fishing strategy attached).

This week, pay attention to the non-farm payroll data, which has been moved up to Thursday. The current market movement is not simply panic selling, but a dual suppression from institutional profit-taking and hawkish monetary policy. Therefore, the true bottom is still some distance away. I advise contract traders not to rush into bottom-fishing!



Today's strategy summary: Continue to short at highs. Focus on the resistance level of 60,600 for Bitcoin. The next resistance levels are around 61,200 to 62,700. For Ethereum, the resistance is near 1,685, with the next resistance around 1,610 to 1,620 to 1,650. These positions are the main pressure levels for this cycle.

Spot bottom-fishing positions: BTC: 53,000 to 45,000 range; ETH: 1,380 to 1,180 to 1,120 range; Sol: Wait for around 53.5 to participate in spot trading! (This will likely occur around August to September, at the latest November.)



Now, let me explain my thought process. If you don't have the patience to read a long article, you can skip this step and focus on the resistance levels above to operate. If you want to follow Jiang Feng's thinking and integrate into the market, continue reading below.

Why have I been bearish since the end of October last year? One reason is the halving cycle narrative, and the other is the rising safe-haven sentiment due to geopolitical instability. Bitcoin has gradually evolved from a safe-haven asset to a high-risk asset, failing to hold the title of "digital gold." Now, with geopolitical escalation, it drops when the Fed raises interest rates, drops when gold rises, and drops. However, the more such logic drives the market, the better we can grasp its specific trend. In the current economic environment, it's hard to reverse Bitcoin's downtrend in the short term. Fundamentals determine the direction. Next, we need to find specific entry points from the market trends.

Bitcoin: (Market indicators are always somewhat lagging, so I'm not keen on detailed explanations, but unfortunately, macroeconomic fundamentals don't get much attention.)

On the daily level, the moving averages above are bearishly arranged. The lower Bollinger Band is opening downward, further expanding the downside space. The MACD red bars are shrinking and approaching the zero line, with the fast and slow lines forming a golden cross moving upward. There is some rebound demand (actually, it's just the indicator showing after a small price rebound. Remember, K-lines and indicators are only the result of price, not the cause.)

On the 4-hour chart, there is resistance near 60,200 from the EMA21 and the middle Bollinger Band. The SRI is turning downward and diverging. The dense resistance zone above is around 60,600, and the 61.8% Fibonacci retracement level near 61,200 is worth watching. If this area breaks out effectively, the next resistance will be around 62,700. So today, focus on the above points for deployment.

Ethereum:

The trend is basically synchronized, but since I trade Ethereum daily, my points may be more precise. From the public points shared earlier, you should know that my recent short-entry points have been within 10 points deviation (mostly only 1-5 points), and prices usually drop immediately upon touching these entry points. Interested friends can check previous articles.

Today's specific reference to resistance levels:

Bitcoin: Resistance near 60,600, 61,200, and 62,700. Support levels below: 59,000, 58,600, 57,500, and 53,000.

Ethereum: Resistance near 1,610, 1,620, and 1,650. Hold the short positions from the weekend at 1,585 if you have reduced positions. Support levels below: 1,550, 1,510, 1,450, and 1,370.

Finally, regarding the short positions entered based on previous article strategies: BTC shorts near 65,600, 63,200, and 60,800; ETH shorts near 1,600, 1,780, and 1,585. If you have already taken partial profits after hitting targets, continue to hold for further gains. These are the precise short entry points from last week. They will not be mentioned further this week. Manage based on your actual position! #0成本拿2股SK海力士 #Saylor暗示增持BTC #预测世界杯巴西vs日本