Zhou Yanling: 7.3 Bitcoin BTC Ethereum ETH Latest Market Trend Analysis

As soon as I returned, the market started to rise. Is this a welcome back for me? Hahaha. Back to the point, this time the non-farm payroll data was disappointing, expectations for interest rate hikes have been postponed, the dollar is weakening, and global risk assets are collectively warming up, which also brings macro benefits to the crypto world; moreover, after a significant drop previously, indicators are deeply oversold, and around 58000 is strong support, repeatedly difficult to materially break down, technically it's time for a rebound; however, this wave is just a recovery rebound after a sharp decline, the big short trend hasn't changed, heavy selling pressure above 62000 to 63000 exists, and all medium to long-term moving averages on the daily chart are still above our heads; although the 4-hour low points have shown a gradual rise, MACD golden cross continues to be effective, unfortunately, the rebound lacks the backing of volume, leaving insufficient momentum; the 1-hour chart is continuously rising in the short term, indicators are about to touch the overbought zone, rushing to 62000 is easily met with selling pressure for a pullback. 61000 is the short-term lifeline; if the market cannot hold, it will weaken again.

Zhou Yanling 7.3 Bitcoin:

1. Short 63000-62200, stop loss above 63800, target 60300-59500

2. Long 59500-60300, stop loss below 58700, target 62200-63000

Zhou Yanling 7.3 Ethereum:

1. Short 1760-1730, stop loss above 1790, target 1670-1640

2. Long 1630-1660, stop loss below 1600, target 1720-1750

[The above market analysis is for casual reference only and does not constitute investment advice!]

The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling 8), the author has been engaged in financial market investment research for more than ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations, possessing a solid theoretical foundation and practical experience, skilled in operations combining technical and news aspects, focusing on fund management and risk control, with a stable and decisive operating style, recognized by many investment friends for a flexible responsible character and sharp decisive operations.

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