Today is Tuesday, September 24, 2024. Bitcoin surged to 64,800 yesterday and then quickly retreated. The lowest point was 62,700, which was a 2,000-point retreat. Currently, Bitcoin's daily line is almost showing a unilateral and stable upward trend. Short-term support is at 62,000, and pressure continues to be at 65,000. If it falls below the support, it will depend on Bitcoin near 6. If it breaks through the pressure, it will have a chance to hit 70,000 US dollars.

The exchange rate of Ethereum has accelerated again in the past two days. In addition, the transaction fee of Ethereum has also soared rapidly this month. In less than three weeks, the price has soared three times, which directly led to a significant increase in the number of Ethereum destroyed. However, maintaining long-term deflation is also the strongest signal of Ethereum's market competitiveness. Yesterday, Ethereum began to rise near 2540 during the day, breaking through the recent high of 2702 US dollars and began to fall back to around 2610. So far, it has rebounded to around 2640. The short-term support is 2600, the strong support is 2500, the pressure is 2700, and the strong pressure is 2800.

There are still many good news in the market these two days. The news about another 50 basis point interest rate cut in November has been called for by the market again. The probability of a 50 basis point interest rate cut is close to 51.5%. From the logic of this month's interest rate cut, if the inflation data can be kept within a reasonable range, the unemployment rate rises slightly, and the principle of high-intensity defensive interest rate cuts is adhered to, the market may really fall beyond expectations. If this is true, after a short period of economic panic, the liquidity of the market will be injected in advance, and the early arrival of the big bull market will no longer be hindered.

Finally, the weekly pressure of Bitcoin's current rise is at 65,000. It rushed to around 64,800 yesterday and began to quickly fall back, which shows that the pressure here is still very large. After all, this position was the high point of the previous market crash. Currently, Bitcoin is still moving in tandem with the U.S. stock market. The U.S. stock market did not rise much last night, so Bitcoin naturally could not go up. The recent rise of the market was basically pulled up during the day, so there may be more funds entering the market in the Asian session. In the past, the market usually rose in the middle of the night, and in the middle of the night and early in the morning, there are usually more foreign funds entering the market.

In terms of operation, for those friends who have bottomed out in the 56000-53000 range of spot, if it is a short-term, I personally suggest that you don’t pay attention to the short-term market anymore, pocket the short-term profits, and wait for the opportunity to enter the market again. You can make a few thousand points by selling here, which is not bad. If it is a long-term, the cost-effectiveness of bottom fishing at this position is still very high. Don’t be affected by the short-term market, just hold firmly. If you have bottomed out in the 2200-2300 range of Ethereum before, you can continue to hold it now, and sell it when it reaches around 2800 in the short term. Don’t pay attention to the short-term market for long-term holdings.