Important information you should not miss
1. There is no new progress in the situation in the Middle East, and the current situation will not affect the trend of cryptocurrencies, because the trend has already come out, and no matter what happens, it will not affect the direction of the trend
2. The final value of the annualized quarterly rate of real GDP in the second quarter of the United States was 3%, which was consistent with expectations and the previous value. The number of initial jobless claims in the United States for the week ending September 21 was 218,000, lower than the expected 225,000, the lowest since the week of May 18.
3. CZ was released early today, and the whole network is paying attention. Maybe related memes will take this opportunity to hype it up.
4. Traditional institutions are actively embracing encryption. JPMorgan Chase Bank has been approved by the US SEC to provide cryptocurrency custody services.
Market Analysis
BTC rebounded too quickly after yesterday's pullback near 62,600 and broke through the 65,000 point line. Although the current view is very firm, the double-needle top fell back to 64,800 points in the previous two days. The strength of the pullback yesterday morning was very small. The rebound strength was relatively speaking, from the low point to the high point, there was a rebound of 3,000 US dollars. The two cakes did not rebound much. After the overall pullback of 100 US dollars, it only returned to the original position yesterday. The performance of the two cakes is still in line with expectations, not as exaggerated as the big cake. The slight fluctuation is a few thousand US dollars from the lowest to the highest point. The market is firmly waiting
Today's highlights
BTC is fluctuating after breaking through 65,000 on the four-hour level. It will not continue to rise on the intraday level. The callback mainly depends on the strength. The first line of support is in the 63,500-63,800 range. The daily line still needs to fall below the 62,600 support defense line to establish the current short trend again. The daily support level is in the 60,600-61,200 range.
ETH's trend is slightly better than Bitcoin, but not as fierce as Bitcoin, with a lot of back and forth. From the four-hour chart, it did not reach a new high of 2700 points after the rebound yesterday. The highest point only returned to the previous high of 2670. The small V rebound did not exceed the previous high position. The volume performance was weaker than Bitcoin. The support position at the intraday level can focus on the 2560-2600 range. The intraday level and the daily line focus on two points: the 2520-2480 range.
Outlook
The rise is not a one-step process. After the trend emerges, it must be a three-step retreat. In this process, everyone must have firm beliefs and not doubt the trend.
After entering October, which is what we call Q4, the bull market will officially begin. At that time, various new gameplays or new memes will emerge, including AI, RWA, DePin, etc., which will be sought after by the market again. Everyone should pay attention to them.
The Bitcoin ecosystem is recovering, and concepts such as runes have not been seriously hyped. Dog has risen a lot in the past two days, so you can also focus on it.
Concise analysis of market trends
1. Fed’s trend: A new round of interest rate cuts has started, and the rate may be cut twice more this year. US dollar assets will seek new investment channels
2. Domestic monetary policy: The central bank cuts interest rates and reserve requirements, releasing trillions of liquidity, and funds seek ways to maintain and increase their value
3. Global central bank trends: Many central banks followed suit in cutting interest rates, including the European Union and the United Kingdom, and the global monetary environment became loose
4. Positive news for the cryptocurrency circle: The problems left over from the Mentougou incident are coming to an end, and the impact of the market-crashing funds has been greatly reduced.
5. US policy expectations: No matter who is in charge of the next government, cryptocurrencies will be supported, and USDT will be seen as a new economic and financial tool
6. Japan and South Korea are actively promoting the development of cryptocurrencies
7. U price is positive: the decline in exchange rates has a positive impact on the crypto market
8. Whale Movements: This month, a large amount of BTC holdings have increased, with the amount reaching 1.4 billion US dollars, which may come from wealthy people or national reserves
Pie and A-shares no longer follow the US stock market
Stimulated by the central bank's three-pronged policy of lowering interest rates, lowering reserve requirements and lowering housing loans, the A-share market successfully reached 3,000 points yesterday. In just two days, the market went from 2,700 to 3,000. It is not an exaggeration to say that it has taken off like a rocket. When I posted yesterday, the technical indicators of the Bitcoin were all bearish and shaky. Who knew that after I posted, Bitcoin followed the A-share market and rose all the way, rising for a whole day.
This slap in the face came as fast as a tornado, leaving the technical analysts scratching their feet in embarrassment.
When the U.S. stock market opened in the evening, Chinese stocks continued to rise after the A-share market during the day, but the U.S. stock market unexpectedly fell. However, the big cake did not follow the U.S. stock market, but continued to rise. A big positive line broke through the pressure level of 65,000, hit 66,000 and closed down. It is currently consolidating around 65,000.
