Bitcoin has a short-term correction and is ready to rise!
The intraday market continues to see a volatile trend, and adjustments are the main trend as it approaches the end of the month!
$BTC is oscillating in the overall box, with no obvious downward trend. Looking back at yesterday's market, Bitcoin hit a high of $64,800 in the morning and then fell all the way until the U.S. stock market opened, then it rebounded and began to fall again. It has now recovered above 63,000. Many people are trapped above 63,000, and there will definitely be a market cleanup here, and people here will not be easily released.
The market outlook is still bullish, and the probability of a deep short-term correction is not high, so there is no need to worry about the market going badly!
After a brief pullback at the 4-hour level, Bitcoin is regaining strength to sprint. Once it can break through 65,000 again, the next opportunity will be to reach the 70,000 mark.
The $ETH band whale also opened a position of 7,500 ETH three hours ago, worth $19.31 million, with an average purchase price of 2,575. If the price drops to this level during the day, you can buy more and dance with the dealer. The ETH to Bitcoin exchange rate is expected to reverse.
The Ethereum series of memes are being hyped recently, and Ethereum will become stronger in the future.
The market is expected to be very lively today. It is rare to see such a large-scale Fed meeting: the Fed Chairman, five board members, and Treasury Secretary Yellen make a total of seven people, more than a basketball team, with both the offensive and defensive camps, and two substitutes. It can also be seen that the Fed and the Treasury Department attach great importance to communicating with the market after the first rate cut.
Especially now, the market is in the process of re-anchoring after the interest rate cut, and then begins to look forward to the rhythm of subsequent interest rate cuts. The main statement may be to appease the market's worried mentality and give certain expectations but not overly raise expectations. It depends on whether anyone comes out to pour cold water here.
The two key data are:
Initial jobless claims are released tonight.
Final value of real GDP annualized quarterly rate in the second quarter.
Following SUI, other public chains such as SEI have also started to build momentum in the past two days. In terms of sector trends, there is a subtle competition between meme and public chain traffic in the short term. In addition, sui has also started to fight local dogs on the chain. The entire network is using the CX casting method. If nothing unexpected happens, one or two non-core public chains will also stand out. It should be noted that after the market starts fomo, there is a high probability that there will be a mess in the end, so if you don’t know how to play, don’t join in the fun.
The SEC will start a new round of intensive speeches, including the final report on second quarter GDP and other data. The market is expected to start to expand its volatility after the sluggishness in the past two days. When the crypto market should be calm, you must maintain sufficient strategic determination. The biggest problem in the market this year is the lack of liquidity. If you frequently operate when liquidity is insufficient, you will become the liquidity of the market.
The narrative of Meme has just begun, and copycats are recovering. Once adjustments are made, copycats will explode, and the copycat season will explode with the Q4 explosion.
The bullish logic of the altcoin:
1: The leader of the copycat ETH continues to strengthen, and the main upward trend of ETH will further expand!
2: 90% of the tokens have basically lost their liquidity at the bottom!
3: The secondary market’s attention to altcoins is decreasing
4: Most of the altcoins on Binance have very pitiful holdings. They can no longer obtain liquidity downwards and can only move upwards!
Three bullish high-quality coins
» $PEOPLE
There have been some changes on the chain recently. The main force has sold a lot of goods before, but they have gradually returned in August and September. Recently, it is still relatively resistant to declines. It is fully circulated, the US election, a strong currency, and has MeMe attributes, and a low market value! It fully meets the core track of this round of bull market!
It has been three months since the highs came down and the market has been washing out. Now there is a trend of reversal, so you can focus on it! It is highly likely that the third wave will begin, which is also the last wave of rising trend. The target is 30 to 50 points to move gradually, and the profit will double. If the short-term pulls up, please don't chase high!
» $LAMB
WLD leads the resurgence of AI trend, Lamb deserves attention!
Lamb has become the only project on OKX to add USDC trading pairs in the AI sector. The following points are worth noting:
1. Ultra-low market value AI project: Lamb is an emerging AI track project with a total market value of 10 million dollars and great room for growth.
2. No risk of delisting: With stable support from the OKX platform, the trading pairs are locked, so there is no need to worry about the risk of sudden delisting.
» $BNB
CZ's return is still a huge boon to Binance, and it will also have a positive effect on boosting user sentiment. It is highly likely that the Binance series of currencies will see a rise, and some people in the market have begun to target the so-called concept of CZ being released from prison. This shows that even though the market is no longer the same market, CZ is still the same CZ.
bnb's small level just fell back to around 580, which is a small level support position. It has not fallen below, which means it is likely to continue to rise. You can continue to pay attention to bnb. There are still three days before cz comes out. Three days later, bnb has a big positive line to celebrate the return of that man!
Again, it is easy to choose a coin, but it is the most difficult to predict a periodic market trend. Cherish the market and the chips!
