On 25/05/07, Bitcoin daily chart rebounds again, maintaining the channel on the 4-hour chart, FOMC meeting is approaching.
Bitcoin rebounded after a dip to 93363 last night, quickly rising to 97738 this morning. In the evening, after a strong opening, Bitcoin continues to climb, seeming to be on the verge of a breakout. However, the current market is still not suitable for chasing.
In the early morning, the FOMC meeting will decide whether to cut interest rates. Based on previous behavior, it seems quite difficult, so a false breakout cannot be ruled out.
Bitcoin
The 4-hour rising channel has not been broken, and the rebound is also under pressure. Therefore, it is necessary to pay attention to whether it is a real breakout or a false breakout. If the second rebound truly breaks and holds above 0.618, there is a chance to challenge 100000.
The daily chart and the breakout around 32,000 are similar to last October, so it’s better to wait for a drop back to the lower channel line before considering buying.
Support: 93300—95000—96000
Resistance: 98000—100000
Ethereum
Narrow fluctuations have lasted for two weeks, with a rebound target of 2100—2300. The longer the narrow fluctuations last, the more momentum builds. The strategy for Ethereum is similar, with a low buy near 1730—1750.
In terms of imitation projects, I am still relatively optimistic about STX, LTC, BNB...
