2024.9.20 Today's market analysis:

Yesterday the market continued to rise, and the highest was about to reach 64,000. Will the news of interest rate cuts continue to stimulate the market to rise?

From the daily chart, we can see that we have come to the POC, the most densely-stocked area in more than half a year. There will naturally be some suppression here, but similarly, once it breaks through, the target of the market is naturally the upper edge of VAH (near 69,500). From the chip distribution chart, it can be clearly seen that there are two areas above that are also very concentrated in transactions, one is near 64,000, and the other is near 67,000. In other words, the next upward impact, these two positions are very critical. Pay attention to the suppression strength. When it is touched for the first time, a short position can be considered when a pattern appears.

From the 1-hour chart, it is still a bullish trend. It is still necessary to find a position to be low and long. The oscillation range of 62,000 below and the long and short conversion position of 60,500 below are positions worth considering for long positions.

ETH's trend is much weaker than BTC. When will it rebound is the most concerned thing in the market. Here we still maintain the low-multiple thinking. The long position near 2400 is worth considering. If you like to do ETH, you can wait patiently. There will be opportunities for rebound later.

The overall market has maintained a good bullish sentiment in the face of the US dollar interest rate cut, but today's 11 o'clock yen interest rate policy is also worth paying attention to. If it remains unchanged, the market will still maintain a bullish sentiment. If there is an interest rate hike, the market may face a rapid correction. ##btc ##eth