BTC market changes rapidly. Last Friday, it was reminded that the turning point of the AB=CD pattern was at 61,000. The highest rebound in the market was 60,625, and the lowest retracement was 58,100, a retracement of 2,500 points. It is unknown whether the recent assassination attempt on the founding comrade is a "Infernal Affairs" or "The Matrix," but currently it is safe. The probability of the Fed's interest rate observer cutting interest rates by 50 basis points has increased to 60%. There are still 2 days before the rate cut. Let's first see if the trend of the US stocks in the evening is a rebound followed by a decline.
The weekly chart shows a bullish engulfing pattern, and the daily chart maintains an ascending flag channel operation. The mid-term suppression within the channel. Given the imminent rate cut sentiment, let the bullets fly for a while. Since the second drop from 72,000 in early June, it has been a habit for BTC to drop on many Mondays.
BTC
The 3-day MACD shows a clear bullish divergence, and there have been two rebounds at the MA120. If there is still a retracement in the future without breaking below this moving average, it can be arranged. Pay close attention to this trend line, which coincides with the ascending triangle trend on the daily chart.
The daily breakthrough of the BOLL midline retraced without breaking the support at 57,600. The 4-hour uptrend line has not been broken either. Before the rate cut, there will continue to be a rebound towards 63,500-65,000 and then a retracement.
Support:
Resistance:
Ether
The rebound on the weekly chart is very weak. This morning, it directly fell back to the 2,270 support. The 4-hour ascending channel has been broken, and attention should be paid to the resistance at 2,370 during the rebound.
ETH/BTC exchange rate hits a new low at 0.038, and I find it a headache to watch this continuous decline without any decent rebound.
Pay attention to mainstream and altcoins to see if there are suitable opportunities after the rate cut!
Support:
Resistance:
If you like my views, please like, comment, and share. Let's go through the bull and bear markets together!!!
The article is time-sensitive and is for reference only, with real-time updates.
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