Since the U.S. Federal Reserve (Fed) announced a 2 basis point interest rate cut, Bitcoin has gradually risen recently. As of this morning (23rd) when writing, it once reached 64,400 US dollars. It has fallen slightly at present. It is predicted that it will fluctuate and consolidate in the short term, but it remains optimistic in the long term.
VX:TTZS6308
The overall economic data is still a risk. If there are signs of recession, the price of Bitcoin may face headwinds. Now the entire market is looking at the overall economic data. The fundamentals or funding aspects will not affect the price too much. We need to closely observe the changes in the overall economic data in the future. If there are no problems, Bitcoin is expected to break through the $65,000 mark as market concerns dissipate.
Bitcoin's recent rebound has driven a buying spree in Altcoin, especially those that have broken through their respective overhead resistance levels. If Bitcoin enters a volatile market as expected, investors are expected to shift their attention to Altcoin.
AVAX
On September 19, AVAX broke out and closed above a descending channel pattern, indicating a possible trend change.
From the daily chart, AVAX is being blocked near $29. If the price pulls back from the current level but finds support at the 20-day EMA ($24.81), it means that bulls are trying to take control and may accelerate above $29 and reach $33. On the other hand, if the price pulls back and breaks below the EMA, it means that $AVAX may continue to fluctuate between $19.50 and $29 for a while.
SUI
The SUI has risen above the $1.44 resistance, but higher levels are likely to attract selling.
Judging from the daily trend, SUI once faced a fierce battle between bulls and bears near $1.44. It has temporarily broken through $1.58, which means that the bulls have turned the $1.44 level into support, increasing the possibility of further rise to $1.72.
If the SUI suddenly turns down and sustains below $1.44, a drop to the 50% Fibonacci retracement level of $1.29 is possible. Below this level, a drop to the 20-day EMA ($1.15) is likely.
TAO
TAO broke out and closed above the overhead resistance of $361, completing a triple bottom pattern that has a target price of $517.
If TAO continues to rise, it may face selling pressure near $490 and $530 again, assuming the price does not pull back too much, it may continue to rise. If it breaks through $530, it may surge further to $640.
If TAO pulls back, the first support level is the 38.2% Fibonacci retracement level ($401). If it fails, it will drop to $378, which is the 50% Fibonacci retracement level. If it falls below $378, it may retest the previous breakthrough point of $361, and it is expected that the bulls and bears will compete for dominance here.
AAVE
Aave settled above the $154 resistance level and is trading around $165 at the time of writing.
If bears gain momentum, they may attempt to pull the price below $154 and further to the 20-day EMA ($142). If $AAVE rebounds strongly from the 20-day EMA, it will mean that the sentiment remains positive. The bulls will once again try to clear the overhead resistance and push the price to $180 and then to $200. If AAVE breaks down and sustains below the 20-day EMA, the short-term bullish view will be invalidated and a drop to the 50-day SMA ($125) is possible.
In addition, big brother CZ is about to come out. You can focus on the Binance series of currencies and the CZ concept on-chain meme. You can go and have a look at FOUR. BNX said it would be renamed FOUR, and at that time there may be a battle between the real and the fake.
