Countdown for the Federal Reserve's monetary easing, is the crypto space still playing dead? The betting odds for three rate cuts have reached 60%! It's confirmed that there will be monetary easing in September, and a total of three rate cuts by 2025. This wave of monetary easing should have made the crypto market excited, but instead, Bitcoin is stuck in a choppy range like a dead fish!
$BTC is stuck between $105,000 and $108,000 playing seesaw, ETH is swinging between $2,350 and $2,520, and the Bollinger Bands are constricted like constipation! The daily MACD is showing a golden cross below the zero line, is the bull still playing dead and counterattacking? I refuse to believe this! The four-hour chart shows the moving averages turning down, and the MACD has a death cross in green, clearly indicating that the bears are sharpening their knives!
The Federal Reserve's monetary easing is a long-term positive, but in the short term, this wave of fluctuations is the bears holding back for a big move! Once the interest rate cut expectations materialize, will the bulls dare to pull the market up?
In terms of operations, short BTC at $107,200-$107,600, short ETH at the current price of $2,460-$2,480, with initial targets of BTC $105,500 and ETH $2,400! Remember, the market now is like walking a tightrope at a high altitude; manage your stop-loss well and don’t be stubborn. If the bears don’t exert pressure, it’s one thing, but once they do, it will be a bloody storm!
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