The daily level closing is a half-yang upward pin! Tonight is another difficult night!
BTC has hit the intraday resistance range and started to pull back. Pay attention to the strength of the pullback. The intraday support is in the range of 55600-56000, and the four-hour support is in the range of 53600-54300. Don't chase high prices just because they have risen too high. Chasing high prices will only increase risks. Look at the market calmly, assess the risks first, and then decide whether to intervene. After all, nothing is absolute.
ETH performed poorly and has reached the resistance level and started to pull back. The intraday support is 2280, and the second support is in the 2200-2230 range. If it falls below 2200 this week, the price may start with 1.
Wednesday is going to be an extraordinary day!
This is the first presidential debate between Trump and Harris
This debate will undoubtedly affect the entire financial market, especially in the field of cryptocurrency, and the duel between the two will directly affect the poll results. However, judging from the current data forecast, this is likely not the last presidential debate, and another one is expected before the election results are announced on November 5.
According to a Gemini survey, cryptocurrency has become a key issue in the US presidential election for the first time, with 73% of crypto holders saying that the candidates' crypto stance will affect their voting choices. Bernstein analysis also pointed out that this election may have a significant impact on Bitcoin prices. Trump promised to make the United States a "capital of Bitcoin and cryptocurrencies", and if he wins, it may bring benefits to the crypto industry. However, Kamala Harris did not mention cryptocurrencies in her speech, indicating that her policies may be conservative, which may have a negative impact on the market.
After the first debate, Polymarket data showed that Trump led by a slight 1%, but his overall performance was lackluster and the topic of cryptocurrencies had not yet been discussed.
Affected by Trump’s poor performance, its related Meme coins fell sharply:
TRUMP fell 12.1% in the past hour to $2.80;
MAGA fell 12.0% to $0.0000788;
TREMP fell 17.2% to $0.1514;
STRUMP fell 8.4% to $0.006349;
MAGAA fell 7.6% to $0.008501;
FIGHT fell 11.9% to $0.004779.
In contrast, Harris concept coin KAMA rose 20.9% and is now trading at $0.009218.
CPI becomes key data before 9/18 interest rate decision
The US Consumer Price Index (CPI) to be released tonight is the focus of market attention. Reuters predicts that the CPI will increase by 0.2% quarter-on-quarter in August, the same as last month, which will provide important guidance for the upcoming Federal Reserve meeting. According to CME FedWatch data, 66% of investors expect the Federal Reserve to cut interest rates by one basis point as a precautionary measure, lowering the benchmark interest rate to 5%-5.25%.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
