Powell's Speech and Market Reaction
I. Speech Content
Powell made it clear: a 50 basis point rate cut in both November and December, without rapid rate cuts. GDI shows no downside risk for the U.S. economy.
II. Market Reaction
The market declined, as some investors expected that the rate cuts would not directly boost the economy, increasing recession concerns instead. They believe that the higher the interest rates and the longer they are maintained, the greater the probability of an economic recession. However, it is worth noting that there is currently no expectation of an actual recession, so the reason for the decline is not due to trading on recession fears, but rather disappointment in some investors' expectations.
III. Future Data
Pay attention to economic data starting Tuesday, especially the unemployment rate on Friday. The expectation is 4.2%; remaining unchanged or decreasing would be good news, while exceeding 4.4% would lead to market pessimism.
Summary: Powell's speech provided no new information, leading to a decline due to investor disappointment. Future focus will be on economic data, particularly the unemployment rate.
BTC
The price has reached the expected demand zone of 63550-62700, and is currently rebounding. Focus on forming a buying opportunity in M15! It is prudent to wait for a dip to 62600 before entering long positions! The current bull-bear dividing line is at 64550!
ETH
The price has also reached the expected range of 2580-2550 and is starting to rebound! Currently, M15 has formed a structural breakdown, and there are still buying opportunities near 2600. The bull-bear dividing line is around 2650!
SOL
154 has broken! Currently, there is a demand to short in the rebound range of 154-156, while waiting for buying opportunities around 149-147!
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