After multiple attempts, the final breakthrough, how high can the future new highs reach?
Recently influenced by news of second tariffs and the Federal Reserve's meeting minutes showing the number of rate cuts expected this year and maintaining interest rates steady for the fourth consecutive meeting, the updated dot plot from this meeting indicates that among 19 officials, 10 expect at least two rate cuts before the end of the year, while 7 officials predict that there will be no rate cuts at all in 2025, and 2 officials predict one rate cut.
Most officials are more inclined to cut rates within the year, and the overall news remains optimistic. If a rate cut can occur by the end of the third quarter, Bitcoin is likely to reach a new high again. Ethereum is also expected to test previous high positions.
$BTC : After multiple tests around 110,000, Bitcoin finally formed a breakout trend on the daily chart, reaching a new historical high point. The key point of this breakout is the breaking of the resistance at 109,800, and it is currently stable above 110,000. Even if there is some room for a pullback, it can still be confirmed that there isn't enough space to drop below 110,000. Moving forward, just maintain the pullback and buy on dips, with support at the bottom to watch at 109,800. The final upper high point can be seen around 118,200. The short-term resistance level looks at the upper position of 113,100,
$ETH : Ethereum has recently maintained a strong upward trend, with a 6% increase in a single day yesterday. It has broken above 2,700 and stabilized, but Ethereum still needs to focus on whether it can break above the short-term level of 2,880, which is near the previous high. For short-term pullback positions, watch the line at 2,735. If Ethereum cannot effectively break above 2,880 in its subsequent rise, one should be cautious of a quick drop after a spike.
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