Technical analysis and forecast of spot BTC yesterday and today
Bitcoin (BTC)
As can be seen from the chart, the price of Bitcoin is currently around $67,523. Yesterday, Bitcoin pulled back after hitting a high of $68,459. Technical graphics show that Bitcoin may face pullback pressure in the short term, with the key support level around $66,000. If it falls below this level, it may continue to fall to $65,000. If it can break through $68,000, it is expected to rise further to $70,000. Overall, today's market is expected to fluctuate greatly, and it is recommended to short at high levels, while paying attention to the effectiveness of the support level.
Important and valuable information in the past one or two days
US political turmoil and interest rate expectations
Despite the growing political turmoil in the United States, the market still expects multiple rate cuts this year. CME data shows that the probability of the Federal Reserve cutting interest rates on September 18 is close to 90%, and the probability of a total of three rate cuts this year is close to 50%. Wells Fargo economists expect the Fed to keep policy unchanged this month, but may cut interest rates at its last meeting before the election.Viewpoint: This news shows that the market has strong expectations for interest rate cuts, which may stimulate investors' demand for cryptocurrencies and drive a market rebound.
Ethereum ETF Approval and Large ETH Transfers
After the US spot Ethereum ETF was approved, a large amount of ETH was transferred from the Coinbase institutional wallet to an unknown new wallet. As of now, it is unclear whether these transfers are for the exchange to organize wallets.Viewpoint: The approval of Ethereum ETF has boosted market confidence, driven up demand for ETH, and may lead to further increases in ETH prices.
Altcoin price increase and mainstream coin contract forecast
Altcoin gains
Solana (SOL): Price breaks out above $170, posting significant gains. It is recommended to pay attention to its subsequent trends, especially increasing positions during market adjustments.
Uniswap (UNI): Breaking through $8 shows strong market demand. Consider positioning when the price pulls back.
Bitcoin Contract Forecast
Long-term strategy: In the current market environment, you can consider starting to lay out long-term long orders at low levels, especially Bitcoin and Ethereum. It is expected that in the next few months, these mainstream currencies are expected to gradually rise amid twists and turns.
Short-term strategy: Short-term operations should be cautious and avoid frequent transactions due to small fluctuations. It is recommended to obtain more accurate trading positions in the community.
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