Yueying: July 2nd Bitcoin and Ethereum Market Analysis - Monthly Closing with a Solid Bearish Candle Indicate the Downtrend Will Continue?

Bitcoin's daily chart shows a bearish candlestick pattern after encountering resistance at the 7-day moving average. Intraday trading saw it open near the lower Bollinger Band, creating a new low before rebounding and testing the 60,000 level again. The Bollinger Bands are widening, with short-term moving averages trending downwards. The MACD lines are converging upwards with slightly increasing bullish momentum. The KDJ indicator found support at 0 and turned upwards. The VR indicator is consolidating around 60. On the 4-hour chart, the price consolidated at a low level, finding support at the lower Bollinger Band. The candlestick rebounded and is currently trading above the middle Bollinger Band. The Bollinger Bands are parallel, with short-term moving averages slightly turning upwards. The MACD lines are crossing upwards with increasing bullish momentum. The KDJ indicator is extending upwards; watch for resistance around 100. The VR indicator is consolidating around 60. Overall, the market briefly broke through the previous low before recovering, but the rebound was limited, and the overall trend remains weak with a downward bias. The current strategy remains unchanged. Short-term resistance is around 61500, while a further drop is expected after the initial break below 58000. Continue to monitor the support around 58000. Short-term entry points should be based on resistance and support levels. If there is further acceleration, wait for a breakout before reassessing. See short-term recommendations. Bitcoin short-term recommendations: Long at 58600, Short at 61000 (Strategy activated, manage profits as needed). The short position on Ethereum at 1630 mentioned above has moved approximately 80 dollars. On the 4-hour chart, the price found support at the lower Bollinger Band and then rallied strongly, currently trading around the upper Bollinger Band and the 60-day moving average. The overall technical analysis should be referenced in conjunction with Bitcoin. While Bitcoin has hit a new low, Ethereum has shown relative resilience, which may be a false signal. Whether it will see a further decline or genuine resilience remains to be seen. Short-term resistance is around 1680, and support is above 1500. See short-term recommendations. Auntie's short-term trading advice: Buy at 1530, sell at 1650 (For more cryptocurrency analysis, click on the image to see the homepage introduction and find Yueying) — I am Zhou Yueying.