5-17
Today's Market Analysis:
Last night's roller coaster market once again validated: Bitcoin responded to Wall Street's interest rate game with its knees. The gentle rise in U.S. stocks at the opening in the early hours was like a bubble, and the Federal Reserve's light remark of "only one rate cut this year" directly popped the illusion. BTC plunged from a high of 104000, breaking through three support lines, but halted at the cliff of 103250—this is not consolidation? It is clearly a deep breath before the storm.
The key watershed is locked at 103550; if it stabilizes at this number, bulls can still play with an accelerated heartbeat. But to break through the previous high? If the shorts are not firmly trapped, it is likely difficult to have a soaring rocket. The seal at 105000 above requires real capital to melt through.
Ethereum, along with the entire altcoin army, is performing a hundred-meter free fall, with that hundred-point long needle piercing the support level in the morning. It barely stands above 2450, but the rebound strength is not even as good as a cat scratching a sofa—2530 resistance level hangs like the sword of Damocles. If the bulls cannot produce decent ammunition again, this rebound may end up being a strong crossbow's last breath.
No matter how round the rate cut in September looks, it cannot satisfy the current market's hunger. Without fresh hot money entering the market, a bull turnaround? I’m afraid we won’t even touch the bull’s tail. Brothers, take it easy; don’t let FOMO emotions push your wallet off a cliff. Wait for the market to find clarity on its own first. Remember: the long-living hunters are those who wait for their prey to crash into the trees.
If you want to seize this round of the bull market, it's definitely too late to learn on the spot; it's best to have someone to guide you quickly.
Intraday focus: ACM PORTAL REI
