Bitcoin/Ethereum Analysis at 12:20 AM, Affected by the Federal Reserve's Interest Rate Cut, Market Volatility is High!
Yesterday, the market experienced significant fluctuations. What initially seemed like a stable market situation was suddenly disrupted, with prices plummeting without any signs of stopping, forming a strong one-sided downward trend. This sudden crash caught bullish traders off guard, and their prior expectations and hopes were instantly shattered.
Under the influence of the Federal Reserve's interest rate cut news, the cryptocurrency market saw considerable volatility from midnight to early morning! The unemployment data released last night did not have a significant impact! With the opening of the U.S. market, many altcoins led by Bitcoin began to drop sharply, with Bitcoin falling to a low of 96,852.4 at 2:20 AM today, and Ethereum dropping to a low of 3,380.5!
From the current market perspective, the daily structure has entered a correction phase, and this correction is considered deep. Since this retracement is influenced by news, I personally predict it will not last long, and ultimately, the market will revert to a bullish trend! Therefore, one can consider positioning for long entries during the retracement in the early morning!
In the face of such a sudden violent downward trend, we must not be overwhelmed by fear and frustration. Failure is the stepping stone to success; every setback is an opportunity for growth. We should view market fluctuations with a calm mindset, continuously improve our analytical skills and risk awareness, and gradually find our own stable path in this uncertain market.
Friday Early Morning Trading Suggestions (Written at 03:40)
BTC: Long around 96,500-97,000, target 99,500-100,000
ETH: Long around 3,370-3,400, target 3,570-3,600
The above is my personal intraday market analysis.
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