Market Analysis
Last night, the price of BTC broke through the 60,000 mark and directly reached the weekly support.
If the weekly line can close above 60,000 next week, it will definitely reach around 64,000. Therefore, the market trend in the next two days is more critical. The weekly resistance is still quite strong. Whether it can be closed depends on the market trend over the weekend.
Let’s take a look at today’s market trend analysis:
At present, BTC has begun to retrace at the one-hour level. The retracement needs to look at the two positions of 59497 and 59181. If the retracement does not break through these two positions, the market will continue to be bullish. The upper resistance is still 60597. Only if this price breaks through will the upward force be large. If it fails to break through, it will form a sideways shock in the range of 60597-59000.
Today, we should pay attention to the four-hour support of 59181. If the four-hour closing price falls below this level, we should be cautious about the long position. The market will make a four-hour correction. The correction targets are 58120.57629.57138.
ETH
The price of ETH is currently in a one-hour level correction, and the correction requirement is 2405.2394. Pay attention to the four-hour support of 2394. If the four-hour closing line falls below 2394, it will be in a four-hour level correction. The target below is 2357.2336
The overall ETH is very weak, the monthly and weekly levels are both on the short side, so it is not a bull market
I think that although the current market is rising, this rise has not formed a reversal trend. In the case of spot layout, we must wait until the weekly line closes above 60,000 next week before considering the layout of the first position short-term band, with the target around 64,000. If the weekly line fails to close above 60,000 next week, we must wait for a second bottoming of the daily line before considering the layout, so brothers still have to stay calm.
Will BTC rise or fall if the interest rate is cut by 25 or 50 in September?
Let me first state the conclusion. If we follow the current trend, Nick did not release the reason for the 50 basis point rate cut before the interest rate meeting, but announced a 50 basis point rate cut. Then it is highly likely that the risk market will fall more in the 40 minutes from the announcement of the rate cut to Powell's speech (30 minutes of waiting + 10 minutes of opening remarks).
If the Fed cuts interest rates by 25 basis points in September, the market transition will be very stable, and the probability of a small rise will be relatively high. As for the reason, we have discussed before that if a 25 basis point interest rate cut is in line with the Fed's most basic logic, the economy is not in recession, unemployment is not out of control, and inflation is under control, then 25 basis points is very appropriate as the first cut, which is also the current market expectation. Therefore, 25 is the most stable option at present. Choosing 25 will not cause sharp fluctuations. The market already has enough expectations, and the risk market will give a positive response.
The bull market is coming! Three potential currencies are worth your attention, don't miss the opportunity!
PEOPLE
As a dark horse in this round of bull market, although the price has risen sharply recently and the risk is relatively high, its strong performance as a banker currency, coupled with the continued popularity of the MEME concept, makes it still attractive and suitable for high-risk preference investors to focus on.
OP
During the plunge of Bitcoin and Ethereum, OP showed strong resistance to the decline and rebounded above the supply line, indicating that the downward trend has ended and a new round of upward trend is expected in the future, with a target price of around US$7.
FTM
Fantom, which was once frustrated by the hacking incident, is rebounding strongly. After the technical upgrade, its strength will be comparable to Solana. With low inflation rate and strong fund support, FTM is expected to rise again in the future and regain its glory.
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