ETH: Thoughts for July 7

Fundamentally, yesterday's U.S. economic data series all performed poorly, and after the data, ETH took the opportunity to rebound and rise.
This morning, a week-long agreement between the U.S. and Iran to cease attacks in the Strait has just expired. Iran's resumption of attacks risks unraveling the memorandum of understanding signed less than three weeks ago. The U.S. is likely to carry out retaliatory strikes against Iranian targets. This escalation could further complicate negotiations aimed at ending the U.S.-Iran war.

Technically, on the hourly chart, prices fell to the support around 1725 mentioned yesterday and then rebounded. After breaking above 1808, the market turned around near the previous high, showing a broadening pattern adjustment. On the 4-hour chart, 1808 was not effectively broken, and the price is still consolidating within a range. Therefore, the current market remains in a mid-adjustment phase after an upward wave, with the main trading range between 1817 and 1725.

In terms of operation, the preference remains for buying on dips, using the low of the broadening pattern as support. When the price falls to 1725-1710 and then rebounds above 1740, enter long positions, with a stop loss below 1710, targeting 1817, 1849, and 1885.
If the market evolves into a new pattern and generates new trading signals, I will remind you as soon as possible.
For specific operations, detailed explanations will be provided in the evening live broadcast!