Hot topics of Master Chat:
U.S. Treasury Secretary Janet Yellen said the Federal Reserve may further cut interest rates. There are two reasons for her speech: first, the U.S. economic situation is still good, and the possibility of recession is decreasing.
Secondly, although the labor market seems stable, it is still relatively fragile. Therefore, the Federal Reserve needs to continue to cut interest rates to prevent economic problems, and these information send positive signals to the outside world.
After the Fed cut interest rates by 50 basis points in September, it plans to continue to gradually cut interest rates. According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 40.8%, and the probability of cutting interest rates by 50 basis points is 59.2%.
In addition, the Bitcoin spot ETF had a net inflow of $366 million yesterday, maintaining a net inflow for 6 consecutive days. Currently, the Bitcoin holdings in the United States have reached 83% of Satoshi Nakamoto's holdings.
Bloomberg analyst Eric Balchunas pointed out that the inflow of funds to the US Bitcoin ETF has reached $17.8 billion since the beginning of the year, setting a new high. The holdings of the US Bitcoin ETF have achieved 92% of the target of 1 million Bitcoins.
The recent interest rate cut by the Federal Reserve has also triggered a strong rebound in the crypto market, and market sentiment has improved. Most investors in the market have increased their confidence, so we can look forward to Bitcoin's performance in the fourth quarter.
Master looks at the trend:
The economic indicators released have boosted sentiment towards risky assets as concerns about a US recession have been allayed.
The US economic indicators showed positive performance, confirming that the US economy is relatively healthy, so the market turned to a bullish trend.
The market is currently in an overheated state and we need to pay attention to the risk of a pullback, so we must pay attention to the periodic resistance in the previous high selling pressure zone and be prepared to respond.
Resistance level reference:
First resistance level: 65800
Second resistance level: 66400
If the price of the currency fails to break through the first resistance level and then adjusts, if it can hold the short-term support of 65,000, we can expect the price of the currency to be tested again.
Because the market is currently overheated, the probability of a sharp correction is high, and short-term adjustments can be expected at high levels. If the price of the currency does not fall, it will be regarded as an adjustment, so as to find opportunities for short-term intervention.
Support level reference:
First support level: 65000
Second support level: 64300
In the short term, if the currency price holds the first support, the rebound view can be maintained, but attention should be paid to the upper edge of the rising channel and the psychological support level of 65,000.
If it falls near the first support, the market will return to the rising channel again, and the rebound time may be delayed after a brief consolidation.
In today's trading, as the market is in an overheated state, we need to pay attention to the risk of a pullback and maintain a rebound view.
Since there is an index to be released today, volatility may occur in the evening. If the index performs well, Bitcoin will set new highs.
9.27 Master's short-term pre-buried order:
Long entry reference: 63800-64300 range, long in batches, defense 500 points, target 65000-65800
Reference for short entry: short in batches between 65900-66400, defense 500 points, target 65000-64300
