Thursday Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions for July 2nd

Reviewing yesterday's market, it showed a wide-range volatile and strong upward move. Early in the day, it continued the previous bearish weakness and kept falling. The market hit a low of 57758, found support, and then oscillated upward. In the evening, driven by news events, a strong rebound and repair began. BTC spiked in the early morning, touching the key resistance area at 61322, but the bullish momentum could not sustain. The candlestick briefly broke above resistance but quickly retreated under pressure, falling back below the 60000 level to consolidate. ETH simultaneously spiked to 1645, touched the upper pressure zone, then the upward momentum rapidly weakened. After the spike, it formed a long upper wick bearish candle and entered oscillation.
In yesterday's actual trading layout, the main theme of the day remained to prioritize short positions. After catching a batch of short trades during the day, when a strong rebound appeared in the evening, we decisively stopped out and reversed to take long positions to capture the repair rally. BTC harvested a total of 1593 points for the day, and ETH simultaneously gained 54 points. We did not let a temporary loss disrupt the overall rhythm, and we must follow market signals to flexibly adjust positions.
After this round of strong rally, the current market has returned to the previous oscillation range. The upward spike was only a false breakout to lure longs. The key resistance at 60700 could not be effectively held, and the rebound could not extend further. The larger-cycle downtrend has not been completely reversed; the short-term rebound is only a phase of oscillatory adjustment.
On the daily timeframe, it spiked and then fell back, with clear overhead selling pressure, and it remains in a weak structure overall. On the 4-hour timeframe, this rebound only touched the upper Bollinger Band before facing pressure, forming a long upper wick candlestick, and the larger-cycle descending staircase structure has not been broken. On the hourly timeframe, the spike formed a bearish inverted hammer; the bullish candle bodies are gradually shrinking while the bearish candle bodies expand under pressure. The short-term rebound lacks sustainability, and the probability of oscillating under pressure and falling back is high.
Overall, the resistance above is effectively suppressing the price. Today, it is likely to continue the decline or consolidate in a range. If you have not opened long positions at the low, it is not recommended to blindly chase longs. Going short on rebounds remains the main theme.
BTC: Short near 60300-60700, target around 59000 → 58300
ETH: Short near 1630-1660, target look at 1550 → 1520
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