0701 Bitcoin market report 📢📢📣📣 #Gate跻身交易所Top4#

The price of Bitcoin has slightly declined after a narrow fluctuation in the range of $106,500 to $107,500, currently trading at $107,000. After experiencing a surge in trading volume of 14,000 B-TC near the $107,000 mark, the price has firmly maintained strong support for a week. Traders are paying attention to the potential for a breakout. Since last Wednesday, it has remained within a narrow fluctuation range, with the volatility below 3% for six consecutive trading days. This abnormally low volatility has led traders to speculate: 1. Is it possible for Bitcoin to see a breakout due to a weakening dollar, especially in the context of the ongoing deterioration of the U.S. fiscal situation? 2. Inflationary pressures are resurfacing, with the P-CE( (Personal Consumption Expenditures Price Index) remaining below 2.3% from March to May, while Bitcoin is long regarded as an inflation hedge, benefiting significantly in an inflationary environment. 3. With the Nasdaq 100 reaching an all-time high on June 30, market confidence is rising, and some investors may begin to shift from fixed-income assets to higher-yielding risk assets, which includes "Bitcoin."

🔊🔊 Indicator signal: The daily MA-CD green bars continue to shrink, and the D-IF line and D-EA line are sticking near the zero axis, so caution is needed against short-term profit taking; the price faced resistance at the previous high of $108,800, which is the second low吸 opportunity ( $106,500) built on June 27, fearing a complete retracement.

🔔🔔Technical risk: If the price fails to effectively break through the resistance at 108,500 dollars, a "double top" pattern may form, with a short-term pullback target of 105,300 dollars, and intensified selling conditions may extend to 102,200 dollars. Macroeconomic aspect: The delay in the approval of Ethereum spot ET-F may dampen overall market confidence.

🌈🌈Summary and Outlook: Bitcoin is currently in a critical decision period for bulls and bears, with a focus on the breakout direction within the $106,800-$108,500 range in the short term. The technical analysis shows that bullish strength has somewhat recovered, with good volume-price coordination, but caution is needed regarding profit-taking selling pressure at the resistance level above.

🔑🔑Trading Suggestions: 1. Consider going short if the price rebounds to around $106,800, with targets at $106,250 and $105,250, and set a stop loss around $107,300. 2. For range trading, operate within the $105,300 - $107,300 range, selling high and buying low, setting take profit and stop loss based on 10.68 and 10.6. 3. If the price effectively breaks below $105,000 (psychological level), consider chasing the short on a rebound, with a target around $102,200.
(This article is for readers' reference only and should not be used as an investment basis.)