Market analysis on July 2:

Bitcoin has currently broken through the long-term downward trend line and continues to rise. The research institute believes that an N-shaped rise can be expected in the near future, and the view of a short-term rebound can be maintained.

If the RSI indicator approaches the oversold area, considering the short-term adjustment, it is a good choice to find opportunities for rebounds in the adjustment range for trading.

The market generally believes that this is a rebound range after the low point, and there may be buying orders. But in a rebound without good news, it is recommended to operate against the trend.

Resistance level reference:

First resistance level: 63400

Second resistance level: 64380

In the range of breaking through the first resistance level, the probability of 64K retesting will also increase, so a small rise can be expected.

Since the high point is currently being tested, it is recommended to pay attention to whether the high point test is successful and observe whether it will form a flag pattern.

Support level reference:

First support level: 62600

Second support level: 62000

The first support level is the low point area after the rise, so it must be stabilized to maintain the view of a short-term rebound.

If it falls below the 1st support level, there will be further adjustments due to the lower lows, so 62K is also a buying area with a suitable profit and loss ratio.

Today's trading suggestions:

In today's trading, the chart has turned to an upward trend and maintains the view of rebound.

Pay attention to the trend of the 60-day moving average. If the trading volume is small during the adjustment, the 1st and 2nd support levels can be regarded as buying opportunities, which is also a buying area with a suitable profit and loss ratio.

Please refer to these suggestions when trading

7.2 Research Institute short-term pre-buried orders:

Long entry reference: 61600-62000 range batch long, defense 500 points, target 62600-63400

Short entry reference: 64380-64780 range batch short, defense 500 points, target 63400-62600