Last night, the pancake reached a new high again. This strong rebound is telling everyone that the bull is just lowering its head to eat a bit of grass and hasn't run away.
The Federal Reserve announced a 25 basis point interest rate cut to 4.5-4.75%. Inflation continues to move towards the target, providing support for the rise, so it is still a bullish trend.
From the daily chart, yesterday closed with a candlestick with both upper and lower shadows. The key focus is on the situation after the U.S. stock market opens. During the day, the Asian and European markets mainly showed oscillation, lacking directional selectivity, and we may still need to wait for the U.S. stock market opening to lead the way. The four-hour Bollinger Bands are trending upwards, with the price operating in the middle to upper band area. The MACD bullish energy bars continue to expand, and the belief in a long-term bullish outlook should be firmed up, with the cycle being extended. Currently, the one-hour chart has not yet seen a bottom, and there is a high possibility of continued oscillation during the day. Watch for a pullback around 74500; as long as it does not break, any intraday pullback is an opportunity to go long again.
Reference Suggestions
Go long in the 74500-75200 range, with a stop loss at 73800 and a target of 78600.
Go long on Ethereum at 2870-2900, with a stop loss at 2820 and a target of 3050.
