24/09/17 Dow DJI hits a new record high, BTC57500 supports rebound, rebound tests 4H rising trend line
The operation is as fierce as a tiger. The rise and fall depends on the Federal Reserve. There is still one day before the Federal Reserve's interest rate decision. The probability of a 50 basis point rate hike is still increasing. Currently 68%. The US stock market Dow Jones DJI hit a new record high with an increase of 0.55%. The key to the rebound of the Nasdaq and S&P 500 out of the W shape is the breakthrough of the neckline. Once it breaks through, there is a chance to set a new high.
BTC rebounded from support level of 57,500, and the bullish structure has not been completely destroyed. ETH's rising channel fell below 2,240 and there is short-term support above it. The ETH/BTC exchange rate fell below 0.04 and has not rebounded yet, and it has been on a downward trend since 22 years. The launch of Ethereum ETF did not attract similar buying interest as Bitcoin ETF, but led to net outflows. At the same time, it did not reverse the downward trend of the ETH/BTC exchange rate. The ETH/BTC exchange rate may fall further into the 0.02-0.03 range.
Flatbread
The daily line has not yet fallen below the bottom support of 57,500 on the 13th positive line. It also tests the bottom support of the double negative and positive lines on September 1 and 3. If this bottom is held, there is a possibility of breaking through the 70,000 and 65,000 downward trend lines. There is also a chance to challenge 63,500-65,000 and then look at the correction.
After breaking the 4-hour rising trend line, the rebound tested the suppression. If it can get back above the trend line, there is a chance to continue yesterday's view. We still need to pay attention to the opportunities after the announcement of the interest rate cut.
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The K-line of Ethereum is still weak. On September 1 and 3, there were two Yins and Yangs, and the exchange rate also fell below the previous low. The 4-hour rising channel fell below the short-term rebound pressure, but it is still near the bottom support line to see a rebound.
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