Today's Market Analysis
$BTC Last night, after a slight rise at the opening of the US stock market, it began to fall as soon as the interest rate cut news was released. Although it didn't even break the first support level and started to rebound in the morning, the rebound strength is obviously not strong. To break through new highs, it needs to explore new lows at the bottom. Currently, it is hovering around 103250.
Today, pay attention to whether the 4-hour closing line can hold above 103550. If it can hold, there will be a slight increase, and watch for resistance above at 105000!
$ETH Ethereum started to decline after the news came out yesterday and dropped further by around 100 points this morning. Altcoins also collectively dropped with Ethereum. Currently, Ethereum has rebounded after dropping to near the support level in the morning, but the rebound strength is clearly weak. From the 4-hour chart, as long as it can hold above 2450, it will rebound; watch for resistance above at 2530. If it can't rebound above, it proves the bulls are weak!
Yesterday's news indicated that there will only be one interest rate cut this year, expected around September. Without support from interest rate cuts, the market will need more fuel for a bull run, so everyone should be rational when chasing highs!
Intraday Focus: ACM PORTAL REI
