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1. The current Bitcoin price is facing significant impacts from several dimensions based on the basic market rhythm. Firstly, Trump's previous campaign to become the President of the United States continued to stimulate the rise of Bitcoin, and now there is still a chance for Trump's inauguration in late January to continue stimulating the upward trend. But this year, the pace of the Federal Reserve's interest rate cuts has only had three opportunities throughout the year, with an overall downward space of 75 basis points, which has affected the sustainability of market liquidity. In addition, the US Department of Justice has been approved to liquidate 69370 BTC seized in the Silk Road case, causing significant bearish effects on the market. The convergence of several market wills is expected to have a rough rhythm, possibly due to the recent news of the Justice Department's coin sales continuing to stimulate Bitcoin's violent fluctuations. However, as Trump's inauguration approaches, a new round of upward movement will begin next week. Note that after Trump takes office, the market will see the Federal Reserve's interest rate decision at the end of the month. What impact will it have?
2. Bitcoin is currently at the daily level, forming a head and shoulder pattern of a large cycle, but this pattern has not been fully formed. It has gained support from the neck line around 92000, but if it falls below the neck line and experiences panic acceleration, there is a high possibility of a significant decline, and caution should be exercised. But the neck line at the top of the head and shoulders is a concentrated area for chips, and it is not easy to break below it at present. It is difficult for the head and shoulders to complete the downward trend of breaking the line, which is also an important reason for today's sharp rebound. The divergence between the daily MA7 and the price has formed a turning point, which may lead to a pattern of rebounding and touching the moving average before being suppressed and explored again. MA7 is currently a pursuer for bears, and the neckline is a strong shield for bulls. Which do you think will win?
3. The pressure level and support level of Bitcoin's daily bottom support are in the range of 91300-92000, and the stronger pressure level above is in the range of 96000-96500. The daily moving average gradually forms a bearish pattern. The bottom support of the Ethereum daily chart is in the range of 3150-3200, and the strong pressure level above is in the range of 3450-3500. The daily moving average and short-term moving average have significant deviations.
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