Click on the link to enter the meeting: https://meeting.tencent.com/p/9031749175
Friends who stayed up late last night staring at the plate must understand! Waller's speech directly put the cryptocurrency industry on a roller coaster ride, making my palms sweat. At first, he said that the job market was "particularly weak" and supported further interest rate cuts to return to neutral levels. As soon as this news came out, the expectation of interest rate cuts was immediately filled, and the cryptocurrency community was in a frenzy! Bitcoin skyrocketed to around 90350, and Ethereum also rebounded to 3030. At that time, I thought we were going to break through the 90000 mark, but when I turned around, he added, "Don't be aggressive, slowly lower." This was far from the market's expectation of a "massive interest rate cut," instantly triggering the "buy expectations, sell facts," and causing the coin price to plummet!
BTC plummeted from 90350 to 85300, plummeting by over $5000, while ETH suffered even more. Its intraday gains were completely wiped out and it fell, hitting a low of 27903000, completely losing ground. Now BTC is slowly correcting around 86100, and as I stare at the market, I find it stuck between the daily mid track and lower track, with the range narrowing as it shrinks, indicating that both long and short positions are accumulating strength. Technically speaking, it seems quite contradictory: both the daily and four hour moving averages have a dead cross and are moving downwards, which puts a lot of pressure. However, the hourly MACD is shrinking, and there is some demand for a rebound. Nevertheless, this momentum is pitifully weak, and it is estimated that a slight rebound will continue to cause a weak oscillation. Today, let's first see if it can touch the four hour track of 87500 on the white plate. If it can't make it, it still needs to be ground later; The 90000 mark is now a hard hurdle, and it's too difficult to pass in the short term. I think the support at 85000 below is not reliable. If the volume falls below, I am likely to look for support at 84000.
Ethereum is currently sideways around 2830, and since losing the 3000 mark, this position has become a strong resistance. It is not easy to stand back. On the daily chart, it also oscillates between the middle and lower tracks, with the moving average tightly pressed by a dead cross. MACD bears are still slightly increasing their volume, and the downward trend has not changed. Fortunately, the hourly MACD has contracted and RSI has pulled back from oversold areas, so there should be a small rebound for short-term repair. Today, let's first see if 2900 can withstand it, and don't expect too much from 3000 for now; To support it, we have to focus on 2780. If it breaks, the previous low of 2700 will suffer.
I personally think that today's white market is a weak rebound correction. Don't expect a big market trend. The real highlight will be tonight - the European Central Bank's interest rate decision, the US CPI, and the initial application data. When these three data are combined, they will definitely give the market direction. Both BTC and ETH are now waiting for news to catalyze their actions. Don't blindly chase after them in terms of operations. Focus on key points first, and wait until resistance stabilizes or support breaks before taking advantage of the situation. A safe point is always right
Tonight's live broadcast will explain real-time short-term orders to everyone, including the layout of mainstream Ethereum knockoff market in the future
QQ group number: 1029050804
Meeting number: 9031749175
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.