Zhou Yanling: The Fed cut interest rates by 50 basis points on September 20th, will the bull market in the currency circle begin? Future operational strategies
The Fed cut interest rates by 50 basis points last night, slightly exceeding market expectations. However, Fed Chairman Powell subsequently made relatively "dovish" remarks on interest rate cuts, indicating that interest rate cuts could be accelerated, slowed down, or paused at any time based on actual conditions. In the context of weak macro sentiment domestically, there are market rumors that further interest rate cuts may be implemented domestically. The core logic for being bullish on Bitcoin since the beginning of the year has been interest rate cuts + geopolitics. This 50 basis point interest rate cut has opened up the space for a further slow bull market in the currency circle. The decline in US existing home sales in August was greater than expected, and the game of supply and demand under high house prices and Fed interest rate cuts.
In terms of actual results, US stocks surged and the US dollar fell sharply, seemingly not causing panic in the market for the time being. Of course, news is one thing, market performance is another. It often has a lag, and many impatient people placed long orders last night but couldn't hold on and probably exited, only to regret it the next day. Based on past experience, in situations like this, it usually takes a few days for the market to start reflecting the true situation. Obviously, the intraday trading on Thursday has already begun to digest and demonstrate the impact of this wave of news.
But you should always believe in your own judgment. Yesterday, Bitcoin's complete increase was about $4000, and if it continues to rise on Friday, it will be unstoppable. At this time, Yanling would rather follow the conventional idea, which is to wait for the resistance level to execute short orders. You should know that the 4-hour and daily charts are approaching the resistance level, and often in this slow bull market, once there is a decline, it is a direct and rapid waterfall-like plunge, undoubtedly involving washing out positions. The bulls have been pulling for a while without looking back, and there should be a wave of washing out positions and retracement in the market. So at this point, you should not continue to follow the trend. There is at least a $2000 space for washing out positions, and it's still a good opportunity to seize. The upper resistance level for the day is 65000, and the lower support is 62000.
September 20th Bitcoin operational strategy:
- Long at 62700-63000, stop loss below 62200, target near 63800, continue to break through and look at 64500-65000
- Short at 64900-64400, stop loss above 65400, target 63200-62700
September 20th Ethereum operational strategy:
- Long at 2410-2440, stop loss below 2380, target 2520-2560-2590
- Short at 2600-2570, stop loss above 2630, target 2500-2470
[The above analysis and strategies are for reference only. Please bear the risks on your own. The article's review and publication may have lagging strategies and lack timeliness. Specific operations should be based on Yanling's real-time strategies.]
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other currency circle contracts/spots operations. If you need to understand more real-time community guidance, consultation on getting out of a predicament, or learn about market analysis skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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