July 1 Market Analysis of BTC and ETH

BTC dropped below the previous low and then saw a technical rebound, but the funding rate remains high, bearish sentiment has not been fully released, the probability of a false breakdown is low, and the rebound space is limited. The price continues to be suppressed by the moving average system, key resistance zones have been repeatedly attacked but not broken, and market sentiment is extremely weak. Overall, it is in a stage of declining continuation with a grinding bottom, and the small-level triangle pattern has confirmed a breakdown. Although there is a technical rebound in the short term, the strength is limited and it is difficult to reverse the weak pattern. Below $60,500, maintain a strategy of selling on bounces.

ETH and mainstream altcoins have recently performed slightly stronger than BTC, showing some resilience, but the overall strength is still limited. Currently, ETH is still running below the key resistance level of $1,650, and the rebound space is clearly suppressed. Before an effective breakthrough at this level, the market is still in a weak oscillation pattern and does not yet have the conditions for a trend reversal.
Trading Suggestions:
BTC bounces to the 60,100-60,600 range short
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