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Hello everyone, I am Cannon Teacher. Live broadcast tonight at 9 o'clock
Yesterday, BTC briefly fell near 58100, but then quickly rebounded. This morning, it reached a high of around 60397 and is currently oscillating and consolidating in the 59500-60000 area, with a slight rebound of about 0.5% -1% in 24 hours. Key position: Upper pressure 60300-60600 (the first resistance of the day), breakthrough is at 61400-62000; Support 58500-58800 below (recent low), if it falls below, look down at the 56000-53000 area.
ETH rebounded synchronously to around 1575, and yesterday's low point in the 1512-1532 area has formed a short-term double bottom pattern. Key position: Upper pressure 1590-1600 (first resistance), breakthrough to 1620-1635 (strong resistance); Support below 1550-1560, break below 1520-1524 (lifeline).
Today's core signals on the market
Signal 1: Repeated tug of war at the 60000 checkpoint, direction unclear
Since falling below the 60000 integer level on June 25th, BTC has been oscillating in the range of 58000-60500 for nearly three days. The current market is in a typical "panic bottoming out period" - prices hover below 60000, but there has been no panic collapse. On the morning of June 26th, there were reports that a large entity sold a large amount of BTC before the expiration of a large-scale option, causing a short-term sharp drop to the 58k level.
Signal 2: Option expiration triggers volatility, but the impact is nearing its end
Yesterday was the last Friday of June and also the expiration date of large-scale options, with a total settlement of approximately $10.6 billion worth of Deribit and CME futures and options contracts. A significant portion of the recent selling pressure is related to position adjustments. After the option expires, the market structure may become clearer.
Signal 3: ETH oversold and rebounds, but medium-term bears remain unchanged
ETH rebounded from the low point of 1512 to 1575, showing a V-shaped reversal pattern at the 1-hour level. However, the daily moving average still shows a bearish trend, and the medium-term downward trend has not changed. The current rebound is still a oversold repair rather than a reversal.
On weekends, liquidity is relatively thin, and price changes may be completed within a narrow range, or there may be a stop loss due to price manipulation. Watch more and move less in operation, wait for the structure to be confirmed before starting. See you at 9 o'clock
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent AiCoin's position or viewpoint. The market is risky and investments should be made with caution
