The overall cryptocurrency market shows a volatile trend, with Bitcoin and Ethereum experiencing slight rebounds! This demonstrates an unwavering determination to push upwards and strong market vitality. However, Powell's hawkish policies have influenced the interest rate cut process, which may delay the original plan by a few months, but the final outcome will not change. Right now, it's a washout; those who cut losses are just being harvested like chives!
Bitcoin rebounded from the low point of 92464, making a strong advance and ultimately reaching the high point of 95480. Analyzing the performance of the daily and weekly candlestick charts, the overall pattern shows an interweaving of high-level corrections and low-level rebounds. This resembles an intense and exciting tug-of-war battle, with both bulls and bears engaging in fierce competition at different price levels, each side refusing to give way, resulting in a market trend filled with endless variables and deep suspense. When we turn our attention to the 4-hour chart, we can clearly see an upward trend. However, it is worth noting that each price dip does not mean falling into the abyss of desperation; on the contrary, each dip is accompanied by a subsequent strong rebound. This alternating appearance of dips and rebounds creates a unique and rhythmic pattern, but the space for rebounds and dips is not isolated; they are interrelated and mutually influential. In the short term, let's catch a wave of correction first.
Ethereum started to rise from the low point of 3267, unreservedly releasing its energy, successfully climbing to the high point of 3465, demonstrating an unwavering determination to push upwards and strong market vitality. The rebound space depends on the extent of our dips; the early morning rebound deepened the rebound strength. Pay attention to the gains and losses at the high point of this interval in the morning. If it continues to push upwards and stabilizes effectively, it will increase the rebound strength; otherwise, today will still be a back-and-forth tug-of-war oscillation.
BTC Trading Suggestions
Sell at 95500, add to short at 96100, stop loss at 500 points, target 91600
ETH Trading Suggestions
Sell at 3460, add to short at 3510, stop loss at 30 points, target 3280
