7.03 Zhuoyan Morning Market Analysis

Last night, the market was boosted by macro sentiment, and price action surged strongly upward. BTC’s highest price briefly touched around 62,199, and ETH pushed up to around 1,724. Overall data aligns with the evening analysis. In the morning session, the market is lagging at high levels and has entered a sideways consolidation-and-repair phase.

The subsequent digestion of the non-farm data is nearly complete. In the short term, pay attention to potential disruptions from signals of the Federal Reserve’s policy and changes in geopolitical developments, and guard against funds exiting to lock in profits after favorable news has already been priced in.

At present, the daily timeframe has been closing multiple consecutive bullish candles and is gradually moving toward the middle Bollinger Band. On the 4H timeframe, bulls have expanded volume and broke through the upper band, but the KDJ indicator has already entered a severely overbought zone. On the 1H timeframe, price has fallen below the upper Bollinger Band, and the MACD red histogram momentum has shown a shrink in volume. In the short term, the momentum to push higher has begun to weaken, and a technical pullback is expected.

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

Overall, there is clearly notable overhead pressure. Although the bulls still have some residual momentum, the upside push has started to fade. In the morning, the key focus is whether the 62,000-62,400 range can hold and break through; you may consider setting up orders step by step at higher levels.

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