On Wednesday afternoon, Bitcoin reached a new all-time high of $108,400 yesterday. I mentioned long ago that this bull market has exceeded people's understanding. Therefore, the higher your comprehension, the greater your gains will be. Many people know to go long during a bull market, but they just can't control their hands. I can only say that the unity of knowledge and action is really important!
Next, the key focus this week is the Federal Reserve's interest rate cut decision early Thursday morning. Investors widely believe that there will be a rate cut for the third consecutive time this week, with the market generally anticipating a 25 basis point cut. After that, the Federal Reserve is prepared to slow down or even stop rate cuts. Whether considering short-term effects or long-term implications, this is beneficial for the cryptocurrency market, pushing Bitcoin towards higher historical prices.
The current price has already dropped by 2,000 points. The question everyone is most concerned about is whether to go long or short now. My suggestion is to go long in the direction of the trend, not to panic sell. The morning's pullback to around 104,700 has stopped the decline and rebounded. The short-term support has been effectively tested and the defense line has been maintained. As long as there is no trend reversal, we will continue to go long. There may be some pin action, but that’s fine. If it doesn’t drop, how can we go long?
In the afternoon, you can go long around 104,900 directly, targeting 106,500-107,500. For Ethereum, go long directly around 3,845, targeting 3,980.
The state is very strong, with continuous victories. If you can't determine long or short, stick to your strategy and walk together! Let's create brilliance again!
