Wednesday, July 1st — Latest Reference for Big Cake and Little Cake Ideas

Looking back at the past week’s market performance, Jingwen has executed the trade throughout using a fixed-range consolidation approach. Overall, the timing control has been quite steady, with no major mistakes.

But the key reminder for everyone is this: the consolidation range that has been lasting for a long time this week is very likely to be broken directly.

At present, 58000 is the core watershed key level for Big Cake on the daily chart. Once the price effectively breaks down below this level, the first support below will be 54000. This level is the bottom range of a flag consolidation that lasted for half a year the year before last. It has accumulated extremely strong buy-side support, making it the next critical defense level.

Judging from the current market conditions, the overall non-farm expectations are neutral. Combined with a relatively strong U.S. dollar trend, market bullish sentiment is extremely weak. Every rebound has very limited room—after rising, prices basically quickly pull back, with absolutely no strength to form a reversal.

On the larger timeframes, the market still remains in the mid-to-late stage of a bear market, and the overall bearish trend has not changed in any way.

The medium-term retracement targets I have repeatedly emphasized remain unchanged. This round of deep adjustment is expected to continue at least until November. The ultimate target for this adjustment cycle is 45000.

Short-term execution ideas

Big Cake
Reference 59000-59700 to enter, looking down at 57500-57000

Little Cake
Reference 1580-1590 to enter, looking down at 1540-1510

Trade according to the trend, strictly control your position size, and set your take-profit and stop-loss!#Gate完成141只股票股息派发 $BTC $ETH