The heat is down. Can there be more?
The recent hot spot is still on the 50 basis point rate cut. This decision exceeded market expectations and reflects the Fed's determination to achieve a soft landing. However, the differences within the Fed on future policies are still obvious. Seven of the 19 policymakers expect only an additional 25 basis point rate cut in 2024, while the other two oppose any further rate cuts. Market sentiment and institutional views The current market sentiment is still cautiously optimistic, especially against the backdrop of global geopolitical tensions and volatile economic data, and the attractiveness of Bitcoin as one of the safe-haven assets has further increased. The market expects the Fed to cut interest rates by another 70 basis points at its meetings in November and December, a forecast that is even more radical than the Fed itself.
From the perspective of the comprehensive news, Bitcoin still has upward momentum in the short term, but whether it can break through 67,000 depends on further guidance from the Fed's policies. If the Fed continues to send dovish signals, Bitcoin is expected to continue to rise; on the contrary, if economic data is strong and the US dollar strengthens, Bitcoin may face adjustment pressure. From a technical point of view, the price of the currency has now reached a critical decision point. The K-line is currently falling back. The four-hour K-line has a long upper shadow. The K-line is bound to rise, but the persistent rise is to start a sudden plunge. After inducing enough bulls to enter the market, it is good to start a harvest. Therefore, after Friday, we have to be more cautious in the next operation. The short-term resistance continues to be 65,000. If it does not break, you can start a short layout with a light position. At this time, Ziming does not recommend continuing to chase high positions.
Short-selling around 633-635 for big cakes, target 625-620
Shorting around 258-260 for ether, target 255-250
