Powell's recent statement has caused market anxiety.
He said that inflation will return to 2% by the end of next year or the year after. This statement has led to a further reduction in market expectations for interest rate cuts, a short-term decline in the market, and a decline in mainstream currencies.
Against this background, BTC fell from 63,100 to 61,500, and ETH fell from 3,460 to 3,350.
There is currently no sign of large funds entering the market to pull up.
As for BTC, it fell to 62,000 yesterday and then went sideways. It fell again to 61,500 in the morning, and there was no signal to stop the decline. The market as a whole showed a greater pessimism.
The current trend is close to the starting point of Sunday's rise, and this round of rebound has basically failed. Next, we need to pay attention to the key point of 60,200. If it falls below, a new round of large-scale decline cycle will begin, and the market will dive directly to 52,500.
Therefore, it is recommended to observe the market today. There is a possibility of bottoming out today, but there is no signal to stop falling, so it is not easy to go long. The specific support levels are 60200 and 59800, and the pressure levels are 61800 and 62600.
As for ETH, there is strong support when it falls to 3360. I personally predict that today's trend will be mainly consolidation.
Recently, a large amount of funds have gathered near 3360, which has a good support effect and can form a short-term balance with the fierce short side.
Now ETH is also on the decline, and there needs to be a buffer period to observe whether funds are willing to enter the market to pull up.
Therefore, it is recommended to observe the market today and try to go long with a small position at the support level. The specific support levels are 3360 and 3300, and the pressure levels are 3410 and 3464.
