24/10/01BTC daily line 65,000 false breakthrough, the downward trend has not yet ended, the callback target is 5.6-5.7w
Fed Chairman Powell said he would cut interest rates twice more this year, for a total of 50 basis points
For the time being, the U.S. stock market was not affected by the plunge in the Nikkei index overnight. The daily line also fluctuated slightly and still maintained an upward trend. Continuing the previous view, as long as it is not a false breakthrough, the probability of a systemic plunge in the global stock market is small. The U.S. dollar index has fluctuated around 100 for 6 weeks, so the status of the U.S. dollar is really not covered up, but it is also the last struggle. After the offshore RMB broke 7, there were signs of a short-term rebound. The surge in A-shares during this period may be another strong medicine for the U.S. dollar.
Although what I am going to say next may cause resentment among some people who worship foreign things, it is a fact. The target of the US dollar tide the most is CN, but we have withstood the pressure on the RMB exchange rate, and A shares are also advancing by leaps and bounds (A shares are indeed of low value, but this method of pulling onions out of dry land is not healthy. An investment market that relies on invisible intervention will not last long, and it may not be in line with my personal investment logic).
Besides, the bond market is the second largest in the world. As of September 30, the total stock of the mainland bond market reached 169 trillion yuan. On the 24th, the yield of CN10-year bonds fell to 2% for the first time! A-shares have started the clarion call for a counterattack. The policy is judged as "monetary first, then fiscal", and the market "rebounds first and then reverses.
Flatbread
The upward trend of the daily line is broken, and the rebound continues to look at the callback this wave to 5.6W-5.7W. This is the internal oscillation pattern of the rising flag. Once the upward trend is broken, the probability of continuation is very high. Look at the daily MACD. Every time it turns over the zero axis, it brings a wave of market, and then various short-term top divergences continue to the daily line and then callback. This repetitive play is boring.
In 4 hours, the bottom of the channel of oscillation between 62300 and 64800 is supported. If the rebound pressure of 64300 cannot be broken through, the price will continue to pull back.
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ether
Ethereum also said yesterday that its rebound from the decline is stronger than that of Bitcoin, and the ETH/BTC exchange rate is also making up for the rise. The height of Ethereum's rebound is limited, and Bitcoin will also be dragged down in the downward direction. The altcoin has experienced different degrees of corrections. At that time, seize the opportunity to get on board again. The support is at 2500 and 2300.
Don't be FOMO in this market. If the Bitcoin price fluctuates in the market, it will rise to 100,000, and if it falls, it will be bearish. There is still room for improvement before the pattern is broken. It is difficult for the copycat season to have an independent market. When Bitcoin breaks through 74,000 and starts a unilateral market, the copycat money-making effect will be maximized.
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