Morning BTC/ETH Analysis on September 8
Federal Reserve Governor Waller is gradually becoming a popular candidate for the position of Federal Reserve Chair, as he is willing to base policies on forecasts rather than current data. Additionally, Trump has announced the nomination of Stephen Moore as a Federal Reserve Governor, and various news highlight Trump's strong expectation for interest rate cuts.
According to CME's "Fed Watch": The probability of the Federal Reserve maintaining interest rates in September is 7.3%, while the probability of a 25 basis point rate cut is 92.7%. The probability of the Federal Reserve maintaining interest rates in October is 2.5%, with a cumulative probability of a 25 basis point rate cut at 36.1%, and a cumulative probability of a 50 basis point rate cut at 61.5%.
Yesterday, long positions were entered around 114200, and by early morning, the price reached around 116700. We took profits across the board at 2500 points, then reversed and caught a pullback, with the market providing expected profit-taking space of 1000 points. Friends who kept up with the pace are also reaping the rewards! Currently, on the 4-hour level, the bulls remain strong, with the MACD dual lines breaking the zero line from below. As prices rise, bulls are also increasing in volume, with a support level at 115800 during the day. As long as the 4-hour level does not break below and stabilizes, the trend still belongs to the bulls.
BTC recommendation: Long at 1164-1170 with a stop loss of 600 points
Target: 1180/1192/1200
ETH recommendation: Long at 3830-3870 with a stop loss of 40 points
Target: 3930/3980/4030
