Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference (July 4th)

Chu Yuechen: July 4th Bitcoin/ETH Market Analysis and Trading Reference. The current rebound is driven by macroeconomic positives (employment data + oil price decline + dovish signals from the Fed), coupled with short covering amplifying the gains. However, on-chain data shows that multiple pressures remain, including a surge in exchange inflows, potential selling pressure from large investors, and Strategy's monetization plans. While ETF liquidity has improved, a sustained net inflow trend has not yet formed. The market is closer to a technical rebound after an oversold condition than a confirmation of a trend reversal. Key factors to watch: July inflation data, FOMC minutes, the sustainability of ETF fund flows, and the effectiveness of the 60,000 support level. The overall cryptocurrency market has been positive in recent days. Bitcoin rebounded to nearly 63,000 last night, and ETH reached a high of around 1774, currently experiencing a slight pullback. It's normal for Bitcoin to face resistance around 63,000; we've been monitoring this level. If it can successfully break above 63,000, it may subsequently challenge the 65,000-66,000 range. ETH's resistance levels are around 1780, followed by 1850. Bitcoin's price action below is straightforward, hovering around $60,000 and the $58,000 level. The current market is experiencing significant volatility, shifting from the narrow $58,000-$60,000 range of the past few days to a wider range. For trading, consider shorting around $62,500-$63,000, with a stop-loss at $64,000 and a target of $61,000. Similarly, consider shorting ETH around $1760-$1780, with a stop-loss at $1850 and a target of $1700-$1680. It's important to note that this is currently just a period of consolidation; a bull market is still a long way off. Don't over-hype yourself. The past two days have been relatively quiet over the weekend, so there's no need for deliberate trading. If you have time, consider short-term trades, taking profits quickly and using appropriate stop-loss orders. For further information, please message me privately or check my profile.