7.03 Zhuoyan Morning Market Analysis

Overnight, boosted by macro sentiment, the market strongly surged. BTC’s highest price reached around 62,199, and ETH pushed up to around 1,724. Overall data matches the evening analysis. In the morning, the market at high levels is stalling and has entered a sideways consolidation and repair phase.

The digestion of the non-farm payroll data is nearly complete. In the short term, you should pay attention to potential disruptions caused by shifts in Federal Reserve policy signals and changes in geopolitical conditions, and be mindful of the risk of funds exiting and taking profits after favorable news is already priced in.

Currently, at the daily level, multiple consecutive bullish candles have been closed, gradually moving toward the Bollinger middle band. On the 4H level, the bulls have released volume and broke through the upper band, but the KDJ indicator has already entered a severely overbought zone. On the 1H level, price has fallen below the Bollinger upper band, and the MACD red histogram momentum has begun to shrink; short-term upside momentum has weakened, and there is an expectation of a technical pullback.

【Key Levels】
BTC: For resistance, watch 62,000–62,400 (for a strong breakout, look toward 63,200); for support, watch 61,300–60,800, with strong support at 60,200–59,800.
ETH: For resistance, watch 1,720–1,750; for support, watch 1,680–1,660, with strong support at 1,640–1,620.

Overall, the market faces clear pressure from above. Although the bulls still have some remaining momentum, the momentum to push higher has started to fade. In the morning, the focus is on whether the 62,000–62,400 range can stabilize and break out; you can consider setting up positions in stages within that range.

The above is purely technical discussion and does not constitute any investment advice. Before taking action, be sure to plan and manage risk. If you have any questions, feel free to consult us at any time. $ETH
$BTC