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July 3, 02:48 AM
Analysis:
The market's 1-hour chart has formed a pattern of higher highs and higher lows, a typical 1-hour uptrend. Currently, BTC and ETH have no further upside on the 1-hour timeframe and are undergoing a 1-hour pullback, which has been ongoing for 5 hours. If the price fails to decline by tomorrow afternoon between 2:00 and 5:00 PM, the 1-hour pullback will manifest as a sideways move instead of a decline, putting short positions trapped below in danger. Previously, the daily level experienced a sideways move instead of a rise for 6 days. Today's rally shows signs of a daily-level rebound, but it cannot be confirmed yet.