Market bets on the Federal Reserve's continuous interest rate cuts, cryptocurrency prices have limited declines, cautious selling! 10.25 Bitcoin strategy
A report released by the United States on Friday showed that both overall and core inflation indicators in September were lower than expected, paving the way for the Federal Reserve to further advance interest rate cuts. The first heavyweight data since the White House's shutdown did not disappoint the market. The market has increased bets on the Federal Reserve cutting rates twice this year. Moreover, expectations for further interest rate cuts by the Federal Reserve in January next year are also heating up. Midnight's view that bullish sentiment in cryptocurrency prices is difficult to maintain is as expected; after a spike, cryptocurrency prices fell as anticipated! However, the ideal short entry point has not been reached, and no short positions have been entered! Ethereum long positions are still held! Friends who are following can set a breakeven stop loss!
Two consecutive daily gains, with both closing prices over the past two days showing upper wicks, indicating clear entry by major players. Coupled with the strong opening and rising trend of the U.S. stock market, subsequent cryptocurrency prices are expected to continue the bullish trend. The daily chart is still showing a rebound after a bottoming out, so intraday operations suggest focusing on long positions during pullbacks! Key resistance levels above to watch are 111600, 113000, 114000, and 115800, while support levels below to watch are 109200, 108200, 107500, 106600, 116000, 114400, and 113400.
10.25 Long Position Strategy:
Enter long on Bitcoin during pullbacks at 108700-109200, for conservative traders at 107700-108200, with a stop loss near 107000, targeting 110000-110500-111000, and if broken, look for levels around 111600-112000-112500, continue to move the stop loss to secure profits based on the situation!
Enter long on Ethereum during pullbacks at 3870-3900, for conservative traders at 3800-3830, with a stop loss near 3750, targeting 3950-4000, and if broken, look for levels around 4030-4050-4090, continue to move the stop loss to secure profits based on the situation!
Short Position Strategy:
For Bitcoin, try shorting one position during rebounds at 113000-113500, with a stop loss near 114000, targeting around 112500-112000, and if broken, look for levels around 111500-111000, continue to move the stop loss to secure profits based on the situation!
For Ethereum, short one position during rebounds at 4070-4100, with a stop loss near 4150, targeting around 4000-3970, and if broken, look for levels around 3950-3930-3900, continue to move the stop loss to secure profits based on the situation!
The market is also showing a fluctuating upward trend, and the lack of a breakthrough at previous highs is due to excessive selling pressure. Coupled with the strong performance of gold and the U.S. stock market, funds are clearly being absorbed, but the international situation has calmed down; gold is expected to pull back, and funds in the cryptocurrency market will also gradually accumulate. Everyone should be cautious in selling! #CPI数据来袭
