50 basis point rate cut, where will BTC go next⚠️❗️❗️

No rate cut, no subsequent bull market. This time, the Fed directly took a strong medicine, breaking the 25 basis point rate cut expectations of all parties. Rate cuts are a good thing, and they are also an opportunity to start the chaos of altcoins. This year's altcoins are really miserable, and there is no such thing as low. However, now that the rate cut has come, it is an important sign of the start of the altcoin season.

Now the price of BTC has reached above $62,000, which is still in line with expectations. If the rate cut of 50 basis points can't pull it up, then the currency circle will really be over. On the other hand, Ethereum is really weak. It may be that other ecosystems have taken away market share. The current trend is really hard to see. It is still around $2,400, without any reaction. I am afraid that it will be difficult to hear the voice of Ethereum in this round of bull market.

Judging from the current trend, it is not suitable to short sell. The interest rate cut should be viewed in a bullish form. At present, the short-term air force has been almost liquidated. Seeing the news of the interest rate cut, the air force above has basically run almost, and the strength of the long army has gradually formed. Flowers do not last forever. The air force has always been suppressing the long army. Now it is time to reverse the situation. At present, from $52,500 to $62,500, it has just risen by 10,000 points.

Judging from the current hourly trend, there is no sign of weakening. MACD is even more of an aerial relay. OBV will also rise a lot, indicating that many big whales have not sold yet, and are waiting for the arrival of a big bull market. Now we look at the trend line. The support position below is around $59,500. If it does not fall below this, the bullish trend will continue. The upper pressure is around $63,500. If it breaks through here, it will come to around $66,500. Now the space above has been opened, so it is mainly low and long.

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