Good evening, the current situation in the Middle East is tense, and the US stock index fell collectively last night. The B circle fell across the board. Bitcoin is facing the test of strong support at 6W points, and Ethereum has also fallen below 2500. The contract market has seen a large-scale long position explosion again, and altcoins have also shown varying degrees of decline.
The intensification of the geopolitical situation, coupled with the speech of Powell of the Federal Reserve, was interpreted by the market as a hawkish signal released again. The statement of "not rushing to cut interest rates quickly" is like a "bolt from the blue" for the market. Judging from the market reaction, the trend of the US dollar, gold and US Treasury bonds is closely related to Powell's speech. His remarks seem to have revealed the direction of non-agricultural data this Friday in advance.
BTC's daily line ended with a negative line for a long time, and continued the weak and volatile downward trend after the opening of the day. The current trend has broken the 61,000 support level, and the price continues to fall. From the short-term hourly chart, the trend has closed with a negative line for a long time, the Bollinger band is in an open state, the price continues to fall along the lower track, and the bearish sentiment is high. If the 15-day moving average above 63,200 cannot be broken in the short term, it will fall further. In the future, we will focus on the daily support level of 60,000-60,300. Once it is broken, it may open up a larger downward space and test the 55,000 range. We need to pay close attention to the breakout or stabilization of this range. On the contrary, if there are signs of stabilization, we need to pay attention to the consolidation range of 63,000-61,000. The current trend is weak, and the strategy of rebound shorting should be maintained for prudent operations.
Ethereum is linked to the market and continues its downward trend. The daily level continues to close in the negative. After breaking through the strong support level of 2520 overnight, it fell to the 2420 line and rebounded slightly. It is currently around 2450. The short-term short position shows a rapid downward structure, the rebound is weak, and the market macro sentiment is relatively weak. We need to pay attention to the small structural support of 2420. If the support is broken, there will be a probability of continuing to test 2350. At present, the middle and lower rail supports have been broken one after another. You can look for rebounds and short sell first, and then consider going long after the support is regained.
