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Medium to long-term view of the market:
Since BTC dropped to 58K and recovered, the market has been oscillating at low levels around 59K-60K in recent days, without forming an effective continuation of the decline nor a strong rebound breaking through key resistance levels. This is a phase of low-level liquidation gambling and also a phase of betting.
However, the market is not extremely panicked in the short term, and the impact of fundamental bearish factors has temporarily diminished. This Thursday's July non-farm payrolls day will continue to drive the impact of interest rate discussions, but at most it will repeat the rate hike expectations that the market has already adapted to. However, once the non-farm data favors delaying the month of rate hikes, the probability of a strong rebound following the trend is higher.
Overall, from the current perspective, after a small downward sweep, going long at low levels offers better opportunities than shorting at low levels "following the trend".
Today's market analysis:
Below, focus on two ranges for buying on dips: the wick opportunities of 58800-59100 and 58k-58300. Only after breaking and holding above 60.6K is there a probability of a continued rebound, but the important watershed for reversal is at 62.5K.
Ethereum is slightly stronger than BTC, with rebounds taking precedence over BTC. Watch for a rebound after sweeping lows at 1550-1560, and after holding above 1610, make a continuation breakout.
$BTC
The above are only personal opinions and do not constitute any investment advice.