10.30
In the early hours, the Federal Reserve lowered interest rates by 25 basis points as expected, and hinted at stopping the balance sheet reduction in December, but the market reacted mildly. The performance of US stocks was decent, while Bitcoin continued to decline. The interest rate cut in October had already been priced in, and investors' expectations for another rate cut in December were suppressed by Powell's remarks, especially since he clearly stated that he would not continue to cut rates unless the unemployment rate rose significantly. Although there are internal disagreements, the overall stance of the Federal Reserve remains cautious.
Returning to the $BTC data perspective, the price has dipped but the turnover rate has not increased, indicating that sentiment has not worsened, mainly due to short-term capital adjustments while long-term holders remain stable.
BTC
The market has now entered a low sentiment state, and at the current position, Bitcoin is in a small-scale wide fluctuation. At this position, we need to pay attention to whether the daily level can trigger a rebound from the zero axis. As long as it does not break 107500, it will fluctuate around here, while we also need to be aware of the weekly level staying above the trend. Currently, the market lacks a clear direction and a narrative that can bring liquidity growth, so if we want to operate in the current market, we should focus on short-term strategies. Pay attention to whether 111500 can hold; if it cannot, it will go down again. After that, there will be a small rebound, so we'll see the strength, with support at 109000-106500 and resistance at 111500-112300.
ETH
Ethereum is also experiencing wide fluctuations. The current thought process is the same; pay attention to the four-hour level of 3745, as long as it does not break this position, there is a chance to move up to the daily and weekly levels. However, in the short term, the daily and weekly levels still need to oscillate. In summary, Ethereum should still have another round of market movement coming up, but this round is likely the last wave. So if you are optimistic about the upcoming final wave, you can pay attention to buying in batches near 3745, with support at 3800-3750 and resistance at 3980-4060-4218.
SOL
Solana's thought process yesterday was also to focus on whether 190 can hold. If it can hold, it will move up a bit. Today's thought process is the same, pay attention to 190. I personally believe the daily level will quickly choose a direction. As long as Bitcoin does not have extreme market conditions, it will likely break upwards.
