When others are greedy, I am fearful; when others are fearful, I am greedy
The focus next is on the Federal Reserve's interest rate announcement on Thursday the 19th and the speech by Fed Chair Powell! This is the third rate cut of the year, scheduled for 3 AM on the 19th. It's fair to say that the implications of the rate cut are mixed: Positive factors include increased liquidity and the depreciation of the dollar benefiting the cryptocurrency market, while the demand for safe-haven assets means that cryptocurrencies are becoming a refuge amid economic uncertainty. Negative factors include increased market volatility and risks, potential tightening of regulatory policies due to uncertainty, and increased inflation impacting cryptocurrencies.
After reaching a new high yesterday morning, Bitcoin entered a phase of consolidation during the day. Following a wave of short-squeezing operations, the downward support gradually rose. As the US stock market opened in the evening, bullish momentum was released as expected, setting a new historical high. Bitcoin once again broke through historical peaks with remarkable momentum. The daily candlestick reached a high of 107,774, and the overall trend is becoming increasingly clear. The four-hour chart shows strong bullish momentum that is unstoppable. Once it breaks through the upward resistance level, increased volume will follow naturally. The enthusiasm of the bulls not only meets expectations but is also an inevitable result driven by the trend structure. As mentioned earlier, in the current market context, any pullback is a good buying opportunity. If there is no pullback, then continue to follow the bulls in the short term, anticipating higher points. The day showed a direct surge, and the future movement remains clear, with the main theme still being bullish and following the trend.
Ethereum, in the evening session, performed a reversal near the support zone at 3,880 and broke through the 4,100 mark. The market's movement is proceeding steadily in the direction we predicted. Next, we will set our sights on higher targets, specifically 4,350-4,500! Currently, the coin price is entering a phase of slight correction and consolidation. Although a corrective pullback may occur in the short term, this is not a reversal signal but a necessary phase for the bulls to gather strength. The Bollinger Bands are showing a significant upward opening, with the lower support continually rising and upward space fully opening up. At present, upward pressure is low, and there are no signs of a top being formed in the short term, leaving substantial potential for upward movement. Therefore, it is recommended to maintain a bullish stance in subsequent operations.
BTC intraday operation: enter in batches at 1,055-1,048, add positions at 1,043, with a stop loss of 500 points and a target of 108,000.
Ethereum in sync
