Based on the current price trends of BTC and ETH, as well as the U.S. interest rate cut data to be released at 2 a.m. on the 19th, we can predict the market trends of these two cryptocurrencies in the next 24 hours from the following perspectives:
1. Technical analysis:
BTC：
The current price of Bitcoin is around $60,528, and has fluctuated in the $59,500 - $61,500 range in the past few days. Technical indicators such as RSI show that Bitcoin is slightly overbought, which means that it may face some pullback pressure in the short term. However, MACD remains in the bullish zone, suggesting that the price may maintain the current level or rebound in the short term.
Support: The short-term support is at $59,500, below which a further test towards $58,000 is likely.
Resistance level: The key resistance level above is $61,500. A break above this level is expected to hit $63,000.
ETH：
Ethereum is currently priced at $2,333 and has recently fallen below the key support level of $2,400, showing a relatively weak trend. Ethereum's RSI is neutral to the lower side, indicating a weakening downward momentum, but no clear rebound signal is shown. MACD is close to the zero axis, reflecting that market sentiment is still uncertain.
Support: The current short-term support is at $2,300, if broken, it could move further down towards $2,250 or even lower levels.
Pressure level: If it rebounds, the short-term upper pressure level is $2,400, and the strong resistance level is $2,450.
2. Macroeconomic factors:
The cryptocurrency market may experience greater volatility around the release of the U.S. interest rate cut data at 2 a.m. on the 19th. Interest rate cuts are usually seen as good news because lower interest rates tend to cause funds to flow to assets with higher risks and returns, such as cryptocurrencies. If the Federal Reserve announces a rate cut, it may bring some upward momentum to Bitcoin and Ethereum.
If the interest rate cut is implemented, it is expected that Bitcoin and Ethereum may rebound after the announcement of the news. Bitcoin may test the pressure level of $61,500, while Ethereum is expected to rebound to $2,400.
If the interest rate cut is less than expected or there is no interest rate cut, the market may be disappointed, causing funds to withdraw from risky assets, and Bitcoin and Ethereum may fall further in the short term.
3. Market sentiment:
The cryptocurrency market tends to react in advance to major economic events, so there may be large fluctuations before the data is released. Investors will be cautious during this period and may reduce trading volume or hedge. It is recommended to pay close attention to market trends and trading volume changes before the data is released.
Therefore, we can conclude that:
BTC: If the interest rate is cut, Bitcoin may break through $61,500 in the next 24 hours, and may even hit $63,000. If the interest rate is not cut, it may fall back to $59,000.
ETH: Ethereum may rise back above $2,400 if positive news is released, but if the market reacts poorly, it may drop to the $2,250 support level.
Please operate with caution. $BTC #BTC☀ #ETH🔥🔥🔥🔥
