👀 Guys, the market is about to make moves this week!

$BTC ‌Current price 62719, just stuck below the Bollinger mid-band at 62872

$ETH ‌Even weaker, at 1760, hasn't even touched the Bollinger mid-band at 1774. One hovering below the mid-band, the other being pressed down by the mid-band — this is no coincidence, the market is waiting for one thing: direction.

The Fed's June meeting minutes are coming on Wednesday, which will be the first minutes since Warsh took office. The dot plot from the June meeting showed half of the officials support at least one rate hike this year, but Warsh himself refused to disclose his inclination. What's even more aggressive is that he just said a couple of days ago that he was abandoning forward guidance — from now on, they won't tell you in advance which way they'll go, and each meeting will be data-dependent. This is not about being hawkish or dovish; it's that the rules of the game have changed.

The European Central Bank is also in debate; oil prices have fallen, inflation has dropped, and the urgency for a July rate hike has decreased. The Reserve Bank of New Zealand also has a meeting on Thursday. A bunch of events are piling up.

Let me share my view: BTC at 62000 is a critical level; if it can't hold, it might find support around 61000; ETH is weaker than BTC, and if the market is unstable, 1700 may not hold. If you have heavy positions, think carefully; don't gamble on a single direction. Placing orders in batches is more reliable than going all-in. The news flow this week is too dense; before the direction emerges, staying alive is the most important thing.

Gold $XAU is flat at 4177; HSBC says short-term volatility but long-term bullish — somewhat similar to the crypto market's state this week, all waiting for that spark.

Do you think the Wednesday minutes will mark the end of selling pressure or lead to more dumping? Share your thoughts in the comments 👇

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