The afternoon market has many key points worth our in-depth discussion.
1. Bitcoin is showing a top divergence pattern on the 1-hour timeframe, and we need to closely monitor the strong support levels of 73600 and 72700, as they will be key positions for going long.
2. This morning, Bitcoin's long-short ratio was 0.59, indicating a large number of short positions.
3. Ethereum has achieved a bullish crossover on the daily level, with trading volume tripling. Currently, Ethereum is near its previous high; if it can hold above 2820, it signals that the altcoin season is approaching. As long as it can maintain above 2700, the following market trend will inevitably continue to rise.
4. Today, it would be more prudent to place orders at the hour-level support. Orders can be placed at 2775 and 2728, with position control at 5.5. This is an excellent entry point, but be sure to protect against risks, with the key level at 2700. After all, there is a Federal Reserve meeting tomorrow.
5. The Federal Reserve will cut interest rates by 25 basis points this week and next month, but the pace of future cuts may slow to once every other meeting.
6. For those with long positions, remember to take partial profits while in profit and keep some. Don't gamble; locking in profits is the best strategy. Wait for a bottom to re-enter, rolling your positions back and forth.
7. The Dogecoin whales have already started unloading at high levels. For those coins that experience explosive rallies in the future, be sure to sell in batches, as can be seen in the case of Dogecoin.
8. If BTC.D peaks, then BTC will likely show a pattern of fluctuating upward momentum, and the altcoin season will truly welcome a strong rally.
9. Neiro is the altcoin worth considering to enter during its correction.