Yesterday, the entire rebound of the cryptocurrency market was just extinguished by the rapid decline of Bitcoin and Ethereum last night, just as people's high spirits had emerged. At this critical turning point in the market, any slight movement will have a temporary impact on the market. This means that the currency market is a market of news, and the trend of the cryptocurrency market is completely influenced by news. The Fed's board member Bowman once again made hawkish remarks: there is no reason to cut interest rates this year unless there is an unexpected shock. Bowman expressed hope to see inflation data improve over the next few months, and stated that there is no reason to cut interest rates this year. He may be ready to cut interest rates after "several meetings." If an unexpected shock occurs, there is a possibility of a Fed rate cut, especially after the intensive "hawk-dove" remarks by Fed officials last night. This news stimulated Bitcoin to fall directly from around 63,000 to near 60,000, and Ethereum dropped from around 3,050 to near 2,877.

Returning to the current market situation, looking at the daily chart of Bitcoin/Ethereum, due to the sharp decline in prices in the early morning, there is currently a large gap between the short-term price and the 5-day moving average (MA5), so it is estimated that there will be a short-term technical rebound and adjustment during the day. The 12-hour chart currently shows that the KDJ and MACD trends are similar to the daily chart, but the opening amplitude of the BOLL lower rail is not too large, and the main chart price and MA5 also have a large gap. Therefore, it is expected that there will be a small rebound and adjustment in the short term today. In summary, it is recommended to first consider a retracement and long position for short-term operations during the day. Specific reference points can be found below:

Bitcoin: Long at 60,700-60,200, target 62,500

Ethereum: Long near 2,910-2,880, target 3,000

The above is a personal analysis of the intraday market, for reference only. For those who are uncertain about trend and entry points in future operations, you can follow "Public Account: Mu Feng Looks at Trends" for learning and discussion together!

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