market update 🚨🚨#BTC (daily chart). The price did not reach the $28,400 mark, indicated in yesterday's review as a likely Bitcoin rebound zone, sellers were already activated around $28,580. On the upward momentum, the asset overcame the lower boundary of the consolidation zone of $29,500 — $31,000, stopping at $30,070.
To strengthen the bulls' positions, it is necessary to close the current daily candle above the exponential moving average EMA 21 D — $29,700, otherwise the instrument is waiting for a retest of last week's minimum — $28,850.While the Balance Volume line is held above the EMA 50, with the overcoming of which Bitcoin's ascent began on June 19, chances remain for another attempt to storm the resistance level around $ 31,000.
The first phase of such a development of events will be the formation of a reversal figure — a triple bottom at the minimum of last week.
The next stage is the consolidation of the asset above $29,500 — $29,700, this will lead to the collection of liquidity at last week's maximum — $30,350.
The final impulse is growth towards the upper limit of the monthly consolidation zone — $31,000.
The idea will lose its relevance when the price goes below $28,500.
#ETH. The upward movement of Ethereum was stopped by sellers in the area of $ 1,880, now it is important to see the reaction of the price to the trading level of $ 1,860, to which the asset has descended.
To continue the recovery, the tool needs to be fixed above it.The capitalization of the cryptocurrency market has increased by 1.6% over the past 24 hours, the dominance of Bitcoin has increased by 0.25%.
On August 4, a report on the employment market in the United States is expected, data on which will also be taken into account by members of the Fed.
At the end of the week, there may be an increase in volatility in the broad market.