News:
1. The German government closed 47 cryptocurrency exchanges suspected of being involved in illegal activities.
2. U.S. Congressman Tom Emmer: Looking forward to working with Trump to fire SEC Chairman Gary Gensler.
3. According to Arkham data, the Grayscale address transferred 84,874 BTC (about US$5.36 million) and 6,333 ETH (about US$15.47 million) to the Coinbase Prime address at around nine o'clock last night.
4. Standard Chartered Bank analyst Geoff Kendrick predicts that Bitcoin and digital assets will continue to rise after the Federal Reserve’s recent rate cut, which is driven more by favorable macroeconomic conditions than the results of the US presidential election.
Technical aspects:
Big Pie: Within 24 hours after the Fed cut interest rates, Bitcoin rose by more than 4,700 points. Last night, it was stagnant near 64,000 points. This position is close to the top formed at the end of August. It is also the pressure level of the daily half-year line and the weekly 30-day moving average. It is currently under the above triple pressure suppression position. From the daily level, the three consecutive positive trends, the deviation rate is too high, the technical side needs to be adjusted, and the gap between the K line and the moving average needs to be filled. It is not suitable to be overly bullish at this stage! Whether it is currently at a high level, it still needs to give more signals in the next two days to make a decision. Before the market is smashed, it will inevitably go through a process of high-level shock and sideways trading. The longer the horizontal, the higher the vertical! The focus of the intraday market is the pressure of 63750-64350, and the focus of the support of 62650-62050 below. Operate conservatively and wait for more signals to continue to look at the future trend market!
Erbing: Within 24 hours after the Fed cut interest rates, Ethereum rose by more than 200 points. Last night, it was stagnant at around 2500 points, which is just at the bottom of the 2500-2550 box shock at the end of August, and is also the 7-day moving average pressure position of the weekly line. Compared with the current position of Bitcoin, Ethereum has more than 1,000 points of space. Because of this concept, there are more and more locked-in plates above Erbing, and each time the pressure of the upward breakthrough is very large, resulting in a more and more downward trend, but the current point is in line with the trend of the cottage. In terms of intraday operations, the focus below is on the support rebound of 2430-2400, and the focus above is on the pressure retracement of 2500-2530.
Shanzhai: In addition to the Shanzhai that rose too much at the beginning of the month, the Shanzhai that has performed relatively weakly recently also saw a sharp rise yesterday. At present, they have all experienced a slight correction and are waiting for the signal of the big pancake before making the next decision!
The SUI market maker has extremely high control over the market, and it is the only one that stands out and continues to dominate the list. This upward momentum focuses on the selling pressure near 1.5 above!
The cryptocurrency market is highly volatile, so be cautious when entering the market. This is my personal opinion, not a recommendation, just for sharing
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