Interest rate cuts are in place, Bitcoin has once again broken through the consolidation range!
Last night, Bitcoin pulled back to the support near 93500 and then slowly rose. This morning, it directly broke through the top of the range and touched the previous high around 97700. Bitcoin seems to be on a fast upward trend without any pullbacks. For those with short positions in Bitcoin, make sure to set your stop losses properly. My short position from last night only incurred a slight loss, and I re-entered with a light position around 97.
Tonight at 2 AM, the Federal Reserve meeting is coming up, which is a significant news event that will greatly impact the market. If you can't grasp it, it's better to stay in cash and observe to gain experience. Pay attention to how bullish trends unfold, how bearish trends develop, and how both longs and shorts can be wiped out—observe more.
Ethereum remains the same, still unable to break through the top of the consolidation range at 1850. If it continues to fail, consider opening short positions with acceptable stop losses.
Bitcoin resistance levels above:
97700 98500 99500
Support levels below:
93500 92900 91900
Ethereum resistance levels above:
1850 1920
Support levels below:
1780 1730 nearby