On Tuesday morning, after Bitcoin reached a new record in the early hours, it entered an adjustment phase during the day, experiencing a brief short-selling strategy, with its downward support gradually rising.

As the U.S. stock market opened in the evening, bullish momentum was released as expected, and Bitcoin surged past $107,000, continuing to set new historical highs. After a short-term pullback, the market quickly warmed up, and the slope of the upward channel strengthened, indicating that reaching new highs remains the current main trend. In this regard, it should not be surprising for this week to touch the range of $108,000-$110,000.

This week’s focus will shift to the Federal Reserve's interest rate decision early Thursday morning. The market widely expects that the Federal Reserve will implement a third consecutive rate cut, with a magnitude of 25 basis points, and may subsequently slow down or halt the rate cut pace. From both a short-term effect and long-term perspective, this move is beneficial for pushing the cryptocurrency market, especially Bitcoin, towards higher historical price levels.

From a technical analysis perspective, a single bullish candle on the four-hour chart reflects strong bullish power. Once resistance levels are broken, an increase in trading volume will naturally follow. The enthusiasm of bullish sentiment not only aligns with expectations but is also an inevitable result of trend development. As previously mentioned, under the current market situation, pullbacks are seen as buying opportunities; if there’s no pullback, continue to hold long positions and wait for higher prices. If there is a direct rise during the day, the future trend remains clear, and the main strategy maintains a bullish outlook.

In the morning, Bitcoin briefly retraced and then surged!

Bitcoin short-term near 105,000-105,500 long, target 109,000-110,000

Ethereum short-term near 3,900-3,950 long, target 4,100-4,200

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