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It is not surprising that Powell reappeared with his ambiguous "fox" style last night and took an ambiguous attitude. Powell's message seems to be that considering the strong labor market, the Fed can "slowly" cut interest rates. He did not specify the timing of the rate cut, after all, a large amount of data will be released before the July and September meetings, so today's attitude is not surprising. He also mentioned that inflation may return to 2% at the end of next year or the year after. He pointed out that the Fed's policy remains restrictive and appropriate. The three major indexes of the overnight US stock market opened low and rose, and the encryption market once again showed a volatile trend, but now it is generally stable!

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Yesterday evening, the price of Bitcoin once again fell, reaching a low of 61800 and rebounded. Recently, the price of Bitcoin has been fluctuating within the range of 60000-70000. Although it fell below the 60000 mark twice, it did not continue to decline but was quickly recovered. I believe that the downward test below the 60000 mark is just a short-term bear trap. Bitcoin validated this point at the end of June, and the continuous rise on the last trading day ignited hope for many investors. Therefore, we need to focus on the key level of 64000 in the future. This level brings together multiple medium to short-term trend lines, such as the 21-week moving average and the short-term holder's cost basis line, etc. Breaking through this level will further stimulate market optimism. Once breakthrough, BTC is expected to quickly reach a new all-time high, so the medium to long-term bullish strategy remains unchanged! In the short term, after the midnight pullback of the token price rebounded, since the price did not continue to decline but rebounded, it is inevitable to test the upper resistance again, targeting the current oscillating adjustment trend. In terms of operation, it is recommended to continue to maintain a low long position as the main participation method with short positions as a supplement!


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Ethereum tested a slight oscillation in the white market yesterday, testing a high of 3465. There was obvious pressure above, and in the late market, it went down in conjunction with BTC, testing near 3400 at the lowest. The bearish trend continues, and the daily candlestick is currently at a high level of the EMA trend indicator, testing the EMA90 trend support point of 3595. This was the previous resistance level, which has now become a strong support. The four-hour candlestick has entered a downward channel, directly breaking through the EMA indicator channel from the highest point of the EMA trend indicator. The MACD volume has decreased, and the downward spread of the channel has accelerated. The Bollinger Bands have started to consolidate sideways, with the candlestick breaking through the middle support of 3430 from the upper rail of 3510. Attention is focused on the lower rail support point of 3350. There is likely to be a whipsaw within the large box structure until the ETF is clearly approved. In terms of operation, focus on placing orders around the support and pressure points of the box!