$BTC When the retail investors start discussing 'this time is different', the Federal Reserve is already ready with the sickle. History always repeats itself in different forms. Bull markets are born during Federal Reserve interest rate cuts, die during rate hikes, and torment people during sideways movements. The macro cycle determines the major trend in cryptocurrency. Bitcoin and Ethereum long positions were simultaneously established at around 112896 and 3557, respectively, and indicated to take profits around 114097 and 3614 in the morning. The Bitcoin long position gained 1 point of space, and the Ethereum long position gained 57 points of space.

The mid-line of the daily and four-hour charts for Bitcoin still plays a key role in differentiating bullish and bearish forces. After losing this critical position, it has resulted in accelerated and deepened adjustments, failing to establish solid support. If today, within a small cycle, there can be a rebound to recover above the mid-line, the market trend will still lean towards further upward movement. Currently, the short-term selling pressure formed by bears has mostly been released, and the sentiment for continued decline is gradually dissipating. The market is in the process of forming a bottom support for the next upward surge phase, indicating the establishment of a new trend. Although the market will still face a period of consolidation, it will continuously test the stability of the lower support levels, thereby gradually moving higher and effectively recovering in a healthy manner. Therefore, in the short term, we expect the continuation of the adjustment, while maintaining a bullish outlook in the medium term.

Long positions near 114000-113500 for Bitcoin, target 115000

Long positions near 3600 for Ethereum, target 3700