[09.14——Zero Point Analysis Issue 18]
It was a rare crazy Friday yesterday, with basically all lines rising, including US stocks, cryptocurrencies, and gold. At this time, there are less than 5 days left before the important interest rate decision meeting of the Federal Reserve, and everyone is waiting for the historic moment of September 19!
From a macro perspective, the rise of the entire market is largely attributed to investors' expectations that the Federal Reserve may announce a 50 basis point interest rate cut after the Federal Open Market Committee meeting next Wednesday.
Bill Dudley, former president of the New York Federal Reserve, publicly stated that further interest rate cuts are a good reason.
BTC soared by more than $1,000 last night, jumping from 58,500 to 59,700. After the US stock market closed, it broke the 600 million mark and fell back to below 600 million after 12 hours:
Copycats also followed one after another. Dogs and BB opened two days ago were also on the list of gains.
The most eye-catching one must be CKB, which took off on the spot, and the spot price rose violently by 50%!
Last night, the BTC long orders at 59,900 were basically completed, and I didn’t dare to go short. This morning, 60,500 broke through and fell before entering the short order. The current short can only be short. Half of it was sold at 59,580 tonight, and I am ready to go up to 61,500 and continue to take shorts!
Below I drew two very interesting pictures. I think the script should be like this!
Figure 1: A key crossover appears on the daily chart; the position is around 61500-62000. This position must be physically broken, otherwise it will still go down. There will be a short-term support at 58200 below (see weekly chart 2)
Figure 2: Weekly bull flag pattern; Bitcoin has rebounded to 60500, which is exactly the 21-week EMA (green), which is widely considered to be the bull market moving average
The price happens to be $60550
The market needs to recover this EMA as support to try to break through a series of lower highs since mid-July (blue dotted line), which is the gap I have been emphasizing before-around 62000!
Looking up, 70% sure, looking down, basically 90%, why? Because we need to confirm the position of 56000 again, which is the last drop in the next two months! After all, so many big Vs shouting short every day can't say that they have no skills, the dealer needs to give them an explanation! So I think the range here should be between 55000 and 53000, and the weekly chart is also marked with red simulated columns!(Can’t write more, next article
