On Friday, July 3, Non-Farm Payroll data fell significantly short of expectations, with downward revisions to job growth. The market repriced Fed rate cut expectations, causing the U.S. Dollar Index and U.S. Treasury yields to decline simultaneously. Non-yielding crypto assets saw capital inflows. Bitcoin surged from its intraday low of around 590 to a high of 622, and today it entered a consolidation and repair phase.

Technically, the daily and weekly moving averages are all sloping downward, maintaining a bearish pattern on the larger timeframe. The 4-hour RSI has moved out of oversold territory but has not entered a strong range. Rebound volume continues to shrink, making any upward move prone to a quick pullback — a typical weak bounce pattern.

The intraday session is expected to be range-bound overall. The positive NFP impact has been fully priced in, buying momentum is fading, and bulls and bears are repeatedly battling in the 61000-62200 range. There are no conditions for a unilateral rally.

In summary, intraday short-term trading suggestions revolve around the 608-622 box range. Buy low, sell high, don't hold for the long term, and quickly take profits for accumulation!
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