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Hello everyone, I am Cannon Teacher. Live broadcast at 10 pm tonight. After yesterday's sharp decline, there is a stabilizing signal in the market today. Let's focus on the key points.
BTC once fell below the integer level of $60000 yesterday, hitting a low of $59023, reaching a new low since October 2024. Subsequently, it quickly rebounded above 61000 and is currently recovering from fluctuations in the 61500-62000 area. The 24-hour decline has narrowed to about 2.9%.
Key position: Upper pressure 62500-63000 (the first resistance of the day), breakthrough to see 64000; The support below is 60000-60500, and 59000 is currently the strongest defense line.
ETH fell synchronously to around 1550 yesterday and is currently rebounding to the 1620-1640 area for consolidation. The ETH/BTC exchange rate continues to be under pressure, and funds still lean towards BTC as a safe haven.
Key position: Upper pressure 1660-1680, lower support 1570-1600.
Signal 1: Double bottom prototype appears near 59000
Yesterday BTC stopped falling around 59023, echoing the low of 59101 on June 6th. Received acceptance twice in the same region, 59000 is being validated by the market as an effective support level. If we can break through the neck line position near 62800 in the future, the double bottom structure will be confirmed.
Signal 2: Today's market shows a rebound structure with a stop to the decline
After a 4-hour consecutive bearish candlestick, it closed with a bullish candlestick for the first time. The low-level stop signal is obvious, and the pullback is limited. There is still room for further upward correction in the market.
Tonight's core variable: PCE data
Tonight, the core PCE price index for May in the United States will be released, which is the Federal Reserve's most favored inflation indicator. The market expects core PCE to increase by 3.3% -3.4% year-on-year, and overall PCE to increase by 4.1% year-on-year.
Scenario 1 (Negative): Core PCE is higher than expected → Strengthen the judgment of rising inflation, and the expectation of interest rate hikes further heats up, BTC 59, 000 support will once again come under pressure
Scenario 2 (Positive): Core PCE lower than expected → easing concerns about interest rate hikes, US dollar falling, 59000 double bottom rebound logic will receive macro support
Micron Technology's unexpected financial report has driven some risk sentiment to recover, and US stock futures have risen after hours, forming a positive transmission to the cryptocurrency market.
See you at 10 o'clock, the 60000 mark has been lost and regained, and the window for change may be tonight.
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 the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
