7.03 Zhuoyan Morning Market Analysis

Last night, buoyed by macro sentiment, the market surged strongly. BTC briefly topped out near 62199, and ETH pushed up to around 1724. Overall data matches the evening analysis. This morning, prices are stalling at high levels and the market has entered a sideways consolidation and repair phase.

The subsequent digestion of non-farm data is nearly complete. In the short term, be mindful of potential disruptions from Federal Reserve policy signals and changes in geopolitical conditions, and guard against funds taking profits and exiting after good news is priced in.

At present, the daily chart has seen multiple consecutive bullish candles, gradually moving closer to the Bollinger mid-band. On the 4H timeframe, the bulls have expanded volume and broken through the upper band, but the KDJ indicator has already entered the severe overbought zone. On the 1H timeframe, price has fallen below the upper Bollinger band, and the MACD red histogram shows declining momentum on reduced volume. In the short term, upward momentum appears to be weakening, with expectations of a technical pullback.

【Key Levels】
BTC: For overhead resistance, watch 62000-62400 (for a strong breakout, look at 63200). For downside support, watch 61300-60800; strong support is at 60200-59800.
ETH: For overhead resistance, watch 1720-1750. For downside support, watch 1680-1660; strong support is at 1640-1620.

Overall, the market is clearly under pressure from above. Although the bulls still have some residual momentum, the momentum for the push higher has started to fade. This morning’s focus should be on whether the 62000-62400 range can stabilize and break out. You may consider taking positions in steps by placing orders in advance 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 at any time. $ETH
$BTC