Jerome Powell's evasion of the question of whether the Fed will start cutting interest rates in September is essentially a polite refusal. Powell stated that inflation may return to 2% by the end of next year or the year after. The Fed's policy remains restrictive and appropriate. In fact, in June, the dot plot announced a reduction in the expected interest rate cuts for this year from 3 to 1, and an increase to 4 next year. Many people are still speculating about an interest rate cut in September.

Since 1974, the United States has harvested the world three times in a row, first in Latin American countries, then in Japan, and finally in Southeast Asia, relying on the tide of the US dollar. The whole world knows but cannot stop it. It can be seen that the rebound of the US dollar index is still strong.

In plain terms, the Fed is just a tool to assist the United States in harvesting the world. The current round of interest rate hikes was announced on March 23, 2023, with a 25 basis point increase. In the history of the Fed, the timing of the 7 interest rate hikes varies, but the average duration of rate cuts is 26 months.

The President of TheETFStore: Still believe that the Ethereum spot ETF will be issued in mid-July. Ethereum has repeatedly delayed the market, and when most people lose patience, it will be approved.

Bitcoin
It broke through the support at 62500 last night and briefly found support near 62000. It continued to fall in the morning. The previous breakthrough of 62500 formed a false breakthrough and will test the bottom support again, filling the CME gap at 60200-60400.

The rebound in the market is weak so far and has not effectively regained any upper pressure. If it can hold at 56552-58400, there is a chance to follow a similar trend of 24900-31800. If it cannot hold, then look at the weekly support rebound of 44000-46000, extending the time and space cycle of the bull market.

It has been in an upward channel for 4 hours and filled the CME gap at 60200-60400. There are only short-term trading opportunities in the near future.
Support:
Pressure:

Ethereum
As of the time of writing, it is still falling, and there is no sign of a short-term bottom at 3331. Ethereum also experienced a false breakthrough. From the MACD indicator, the market outlook is not optimistic. After a small tooth appeared when it crossed the zero axis yesterday, it continued to fall back to the zero axis. The basic reason for optimism about Ethereum is the expectation of the spot ETF approval. Otherwise, it would have collapsed long ago. The continued weak performance of altcoins, taking turns to fall, shows that the cryptocurrency market is increasingly trending like the US and Hong Kong stock markets. Even if ETH's spot ETF is approved, there may not be a direct large inflow of funds into other altcoins. It is essential to be cautious in selecting coins, otherwise the situation may become irreversible.
Support:
Pressure:

If you like my views, please like, comment, and share. Let's navigate the bull and bear markets together!!!

The article is time-sensitive and is for reference only, subject to real-time updates.

Focus on candlestick technical research, and win-win global investment opportunities. WeChat public account: 交易公子扶苏

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。