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According to the latest data from CME, the market expects a 95.3% probability that the Fed will keep interest rates unchanged in July, while there is also a 58% probability of a 25 basis point rate cut in September. Will this favourable information be able to drive the crypto assets market to continue to pump?
From a technical perspective, Bitcoin's price is currently operating near the lower band of the Bollinger Bands. Although there is a downward trend, it has not yet broken through the key support level of $116,200. This indicates limited downward momentum, and it is likely still in a correction phase. In the short term, investors should pay attention to the support levels of $1157/$1152 below, as well as the resistance levels of $1192/$1202 above.
Although Ethereum has recently seen a pullback, it still maintains a bullish pattern. Investors should pay attention to the support levels of $3670/$3620 and the resistance levels of $3840/$3940.
For Monday morning trading, it is recommended to set long positions near the Bitcoin price range of $1162-$1167, with a stop loss set around 800 points and target prices set at $1180/$1192/$1202. For Ethereum, long positions can be established in the $3680-$3720 range, with a stop loss of 40 points and target prices of $3780/$3820/$3920.
It is worth noting that although market sentiment is optimistic in the short term, investors should remain cautious, closely monitor market changes, and adjust their trading strategies in a timely manner. The Crypto Assets market is highly volatile, and it is advisable for investors to allocate assets reasonably according to their own risk tolerance and to implement risk management.