Powell's interest rate cut is favorable, ETH soars to new highs, altcoins casually rise by 10 to 20 points, starting to pull back in the morning, let's discuss the current market situation!
Overall Trend: ETH and BTC daily SKDJ indicator shows a bottom golden cross, not yet in the overbought zone at the top, the daily chart feels incomplete, especially BTC just started to reverse!
ETH: Ethereum has pulled back for 4 hours to repair indicators, and the profit-taking from large holders after ETH's new high has caused significant fluctuations. After the indicators are repaired, there is potential for further upward movement; the 4-hour chart may form a 5-wave upward trend;
BTC: The daily chart shows the first day of rebound, with at least 3 daily candlesticks for the rebound wave, continuing to look optimistic for an upward push to 120,000;
Rebound Timing: The 4-hour pullback repair is complete, pay attention to the appearance of a 1-hour SKDJ golden cross, signaling another rebounding opportunity;
Altcoins: Most altcoins are similar to BTC, with the daily bottom SKDJ golden cross just starting, continuing to expect a rebound unless there’s a black swan event in the overall market;
