The Fed's interest rate cut expectations have suddenly changed! The truth behind the million-dollar liquidation in the market!
Last night, the price of $BTC quickly fell after reaching a high of 110,500 USD. Currently, BTC is fluctuating around 108,800 USD, with both bulls and bears fiercely contesting this position.
From a technical perspective, the 1-hour K-line shows that the price has gained short-term support after touching the lower Bollinger Band, but the bearish volume remains strong. The daily K-line has formed a long upper shadow, indicating significant selling pressure around the 110,500 USD level. It is worth noting that institutional funds are continuously rotating between the 109,000-110,000 USD range, and market divergence is increasing.
In terms of strategy, BTC can be shorted in the 109,800-110,200 USD range, with a stop-loss set above 111,000 USD, targeting 107,000 USD. If the price can hold the support area of 107,000-107,500 USD, then long positions can be considered. For $ETH , the 2,680-2,710 USD range is an important resistance zone, suitable for high short operations.
Tonight, the U.S. Core PCE data will be released, and the market is expected to experience significant fluctuations. Meanwhile, the BTC conference is ongoing, and any policy changes could trigger market movements.
If you currently feel helpless and confused about trading, and want to learn more about the cryptocurrency space and get the latest cutting-edge information, click on my avatar to follow me, and you won't get lost in this bull market!
