Others are greedy while I am fearful, others are fearful while I am greedy
The focus next is on the Federal Reserve's interest rate announcement on Thursday the 19th and the speech by Fed Chair Powell! This is the third rate cut of the year, scheduled for 3 a.m. on the 19th. It can only be said that whether the rate cut is good or bad is mixed: positive factors include increased liquidity, the depreciation of the dollar benefiting the crypto market, and safe-haven demand: as economic uncertainty increases, the crypto market becomes a safe haven; negative factors include increased market volatility, heightened risks, potential strengthening of regulatory uncertainty, and increased inflation impacting the crypto market.
After reaching a new high yesterday morning, Bitcoin has entered a consolidation phase during the day. Following a wave of short-selling, the downward support gradually rises. In the evening, U.S. stocks opened, and bullish momentum was released as expected, refreshing historical highs, with Bitcoin once again breaking through the historical peak in an astonishing manner. The daily K-line reached a high of 107774, and the overall trend is becoming increasingly clear. The four-hour single candle surge demonstrates the unstoppable strength of bulls. Once the upward barrier is broken, the increase in volume will be a natural outcome. The bulls' enthusiasm not only meets expectations but is also an inevitable result driven by the trend structure. As previously mentioned, in the current market, a pullback is a good buying opportunity; if there is no pullback, then continue to follow the bulls in the short term, anticipating higher points to come. The day has seen a direct surge, and the future trend remains clear, with the main theme still being bullish and following the trend.
Ethereum staged a reversal performance again in the support zone below 3880 in the evening, breaking through the 4100 mark. The market trend is steadily moving in the direction we predicted, and next, we will set our sights on higher targets, specifically 4350-4500! Currently, the coin price is entering a slight correction and consolidation phase. Although a corrective pullback may appear in the short term, this is not a reversal signal but rather a necessary stage for the bulls to gather momentum. The Bollinger Bands show a significant upward opening, with the lower support continuously rising, and the upward space has been fully opened. Currently, the upward pressure is small, and there are no signs of a top being built in the short term, leaving significant upward potential. Therefore, it is recommended to maintain a low-bullish strategy in subsequent operations.
BTC intra-day operations: enter in batches at 1055-1048, add positions at 1043, defend at 500 points, target 108000
Ethereum synchronously
