It's already early morning again, and I can only say that the fluctuation on Saturday was really too small, spending a long time during the day adjusting around the 108000 line. Currently, a small-scale converging point structure is emerging, which also indicates that a significant change in the market data is about to come. #Dr.Han入驻Gate广场

In fact, the range convergence structure has been discussed many times by Lao Chen. The variables exist and continue after the breakout. From the current market data, the upper level still constitutes a strong resistance range of 108500-109000, while the lower key needs to extend below 107200. If the key points are broken, there will be a strong continuation. Pay attention to the level of 110500 and the level of 105000 below.
The competition between bulls and bears is fierce, and there's no need to elaborate too much. Based on the current on-chain information, fundamental data, and technical indicators, we are alerted: on-chain whales are active, there is severe selling pressure at high levels, and the short-lived upward momentum is limited. However, once a cleansing occurs, it will be two-way, similar to the rapid decline after previously rising above 110,000; #非农就业数据来袭
The fundamentals mainly revolve around tax injection, geopolitical risks, and interest rate cuts. The issues surrounding tax injection vary, and the expectation for interest rate cuts is tentatively set for after September. The probability of a rally in July is extremely low. Geopolitics are a ticking time bomb in the fundamentals; once the wind blows, it could lead to significant market drops, and the current probability of this happening is relatively high; #Gate VIP 焕新升级 .
From a technical indicator perspective, the daily K-line has long maintained a wide fluctuation pattern. This time, the upward movement failed to break through the previous high, and the momentum for the rise is not sufficient. The weekly K-line shows a double top, and a significant downward movement needs to see below 105000. Breaking the 100,000 mark is also within the expectation of the trend.
Things are determined by human effort; man can conquer nature, even if just half a step! Market data is developed through actions; during fluctuations, observe more and act less, enter and exit quickly; when the trend is clear, be bold to act! In life, there are no insurmountable obstacles, and in the market, there are no bad trends. Following the trend and waiting for opportunities are both good choices. I hope Old Chen's thoughts can help you see a glimmer of light in the fog!