#BTC☀ Market Interpretation: Is the rebound before the interest rate meeting really good?
I am in Po County. Today I met with several friends whom I have admired for a long time. We had a good chat. Maybe the update will not be too timely.
Tonight's retail data went from being significantly lower than the previous value to being interpreted as better than expected, and then the Fed's mouthpiece Nick once again guided the market to expect the first 50 basis point rate cut, and the risk market rose as a result.
The sentiment of the US stock market began to fall in the second half. After all, it is about to face the implementation of the expectation of interest rate cut. BTC also fell slightly after hitting the daily resistance.
At present, the market's expected bets for a 50 basis point rate cut are still high, with a probability of 65%. This is the main factor for the bulls in the market tonight. But will it be good to rise like this before the interest rate meeting?
BTC currently hits the daily resistance and falls back. Continue to break through. There are still key daily MA120 63,000 and MA200 64,000 nearby that need to be broken through in the future, and there are heavy pressures.
Moreover, before the interest rate meeting, the market rose due to the expectation of 50. Once the interest rate is announced tomorrow and it is really cut by 50, will the market sell the news?
Tomorrow is another magical day. Alas,
In fact, according to convention, once Nick's expectations are released, the possibility of a 50 basis point interest rate cut is basically very small.
I was busy today and didn't have time to look at the market. The previous short position of 60,100 has triggered the stop loss.
