9.19 Bitcoin surged on Wednesday. Will it continue? Latest market analysis and strategy #token2049 #美国大选如何影响加密产业？ #灰度将推出首个美国XRP信托 #加密市场反弹
——I am analyst Li Hong
Yesterday, Wednesday, I officially returned to work after the holiday. Although it was a little late, it did not affect the operation strategy given yesterday. Bitcoin 59,000, 58,000 to make up for the long, 57,500 to stop loss, the target is around 60,500 to 61,500. I believe that you have read the perfect layout in my article yesterday and made considerable profits. But to be honest, for yesterday, the heavyweight was the Fed's interest rate minutes and Powell's speech at midnight. So I was also surprised by the interest rate cut last night. The Fed took the first interest rate cut since the COVID-19 pandemic, slashing the benchmark interest rate by 50 basis points, or half a percentage point, to curb the slowdown in the labor market. This move quickly pushed Bitcoin up and broke through the important mark of $6,200. In view of the signs of weakness in both the job market and inflation, the Federal Open Market Committee of the Federal Reserve decided to cut the key overnight lending rate by 50 basis points, which coincides with the market's recent expectations.
From the four-hour chart of Bitcoin, the short-term pressure range above has just been broken, but let's see if it can stand above this range. If it stands firm, there will be further adjustments and rises. If the test fails to stand firm, it will continue to fall. Combined with the market situation, you can choose to step back and take long orders to complete the second strong rise of the breakout plate stepping back! The 4-hour level positive line continues to rise, and the performance is still strong after the daily closing and the early morning return to stability, and it runs above yesterday's consolidation. There are opportunities for both long and short positions on the current market. The idea is still to deal with it with a shock idea. In the general direction, we can rebound and short. Bitcoin can be shorted at 62400-62700, with a target of around 60500.
Ethereum is in a descending wedge trend. From a structural point of view, it needs to hit another low point. However, as Bitcoin strengthens, Ethereum also begins to strengthen, which may directly start a new round of rise. Ethereum rebounds and can be shorted at 2395-2415, with a target of around 2300.
——The above article is written by Li Hong Trend. For more real-time analysis and trading strategy information, please click on my avatar to obtain it.
