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https://www.gate.com/announcements/article/45974
Trump's statement sends a new tariff notice to trade partners to strengthen pressure before the negotiations on July 9. This move signifies a new round of escalation in the U.S. global tariff policy. The market is concerned that global trade will further deteriorate, affecting economic prospects, with the dollar fluctuating and safe-haven asset gold prices strengthening in the short term. The encryption market will again be affected then; currently, the market is in the second phase of high-level consolidation, and based on the technical indicator structure, it has just begun, with an expected transition and testing period of one to two weeks. Overall, although the upward trend remains, the strength and momentum are completely insufficient. Pullbacks and consolidation are essential for a healthy bull run; prolonged horizontal movement at high levels will inevitably be accompanied by a more powerful correction!
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Looking back at the intraday market performance, influenced by weekend factors, the overall market showed a mild trend with relatively limited volatility. The market maintained a narrow range of fluctuations, providing an ideal opportunity for short-term operations. From the current 4-hour candlestick chart, the market displayed a clear oscillating consolidation pattern. The price has been hovering below the middle track, forming a narrow fluctuation range. In terms of technical structure, there hasn't been a significant pullback after the short-term rebound; although there was a pullback in the early morning, compared to the upward space, it can only be seen as a correction. Market trading appears slightly thin, with both bulls and bears maintaining a cautious attitude, leading to repeated testing of prices between key support and resistance levels. This consolidation situation creates space for high selling and low buying, suggesting that short-term investors should focus on changes in trading volume to seize structural opportunities within the range. After confirming platform support with secondary pullbacks in a smaller cycle, the market is expected to stabilize, and there is confidence in another rise and breakthrough this evening. This point remains unquestionable; the reference significance of indicator moving averages has diminished, and the trend is relatively flat, so one should follow the pullback strength to engage with the bulls.