Bitcoin market situation:
Currently, Bitcoin is rebounding and breaking through. Let's follow the market sentiment and look at the resistance situation optimistically. The integer level is also the first resistance level of the daily line at 60,000, and the second is around 63,500 of the middle line of the daily Bollinger Band.
Why do we need to look at these two resistance levels? It is still the same sentence. An increase may not necessarily be bullish. In the current situation, combined with the overall environment, an increase may not necessarily mean a bullish return. It may rebound and then fall back again, so the breakthrough and stabilization of the key resistance level are very important.
After the first resistance level is broken, the short-term downward trend begins to slow down, but it is still in a downward trend mood. It is not safe to be long simply.
After the second resistance level is broken, the price returns to the upper line of the daily Bollinger Band, and the price returns to the safe range, and the risk of long positions is reduced.
The breakthrough of each stage represents different market sentiments, please pay attention.
The support situation below,
56,000 support, the current rebound situation, in fact, the decline has not fallen through, there is no actual test of support, and the current outbreak of the rebound is likely to be a short-term rapid decline, an oversold rebound after the sentiment stabilizes slightly, and attention should be paid to the continuity and intensity of this sentiment. There have been two rebounds since the price fell to around 56,000. If the first resistance level cannot be broken, the bullish sentiment will be consumed a lot, which is not a good thing.
The 56,000 support was broken, and it continued the two supports below yesterday, the monthly EMA7 and the daily EMA200. The daily EMA200 position will be regarded as a buy signal by me.
The RSI relative strength index has rebounded but has just touched the 30 position. The overall sentiment is still in the oversold rebound range, which is conducive to the price rebound.
I will look at the market data later.
LIVE
The Fed's interest rate decision and Powell's speech in the early morning have finally come to an end. Powell's theme is still to maintain market confidence, gradually shrink the balance sheet, release the optimistic sentiment of interest rate cuts to the market, maintain the stability of the risk market, and emphasize the pressure of inflation to continue to maintain high interest rates. At the same time, it also maintains the strength of the US dollar index and US bonds. For verifying the interest rate cut, it depends on when the United States will achieve its goal, and this goal is how to let the world share the economic risks and play a role in bearing pressure together.
I will write a topic recently. Once the Fed cuts interest rates, will the world face a stage of vicious inflation? This is more troublesome, and I will find an opportunity to talk about it in detail later.
However, after Powell's speech, the US stock market rose actively driven by Apple's financial report. At present, it is still technology stocks that lead the US stock market. At present, the US stock market has risen, but the increase is small. It is still the same question. How long can the strength of technology stocks and the good news of financial reports allow the US stock market to continue to rise?
At present, the US stock market focuses on Friday's employment data. According to the current bullish bets on US stock futures, the US stock market may usher in a 1.2% floating fluctuation on Friday.
Among the international commodities, the prices of gold and crude oil suffered a sharp setback today, with crude oil falling to $83.38. In fact, the situation in the Red Sea is not clear, and the decline in crude oil prices is not a natural market trend. International gold still holds $2,300. The price of sugar tends to be stable.
The US dollar index fell slightly in the early morning speech and currently remains near 105.73. The 10-year US Treasury bond rebounded after a slight decline and currently remains at 4.622%.
The CME Bitcoin futures index is quoted at around 59,480, and continues to maintain a positive premium of 480 points with the spot, which is a normal value in the near future. Although Bitcoin fell below 60,000 and continued to fall, the futures market is still optimistic about the rise in Bitcoin prices.
After receiving support from 56,000, the spot price of Bitcoin rebounded twice, but it was unable to break through and effectively stand near 60,000. Once multiple breakthroughs fail, the bullish sentiment will be consumed in large quantities, which is not conducive to a short-term price rebound. Later is the market situation of Bitcoin.
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