7.4 Midday Thoughts on Big Pancake Market:


The residual market sentiment from positive Non-Farm payroll data has not fully faded. The price action remains in high-level consolidation, and during the day there have been multiple small upward spikes to test overhead resistance.

Today, the U.S. stock market is closed for Independence Day. Market liquidity tightens, and with no incremental capital to propel it, the rebound pace continues to slow.

On the 4-hour timeframe, bullish momentum is weakening. There is a strong desire among short-term profit-takers to leave the market, and upside resistance is relatively high.

For trading:
Pull back to 62000-62500 to go short; targets are 61000-60000.

Tip:
The above analysis is Muyao’s personal analysis. The market changes rapidly, and the content is for reference only and does not constitute any investment advice!
$BTC
BTC1.34%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned