The Federal Reserve will announce its interest rate decision at 3 AM on Friday. Normally, this data should have been released on Thursday, but it had to be changed due to a conflict with the election timing.
After the data is released, Powell will also give a public speech. The market expects a downward adjustment of 25 basis points for this interest rate.
The news of Trump's victory has already pushed the currency price to a new high, with a significant daily increase of nearly 7000 points. In the current situation, going long is undoubtedly in line with the trend.
However, we also need to be cautious of profit-taking at high levels, which could create selling pressure. The stochastic indicators on the one-hour and four-hour levels have both shown overbought conditions, and the price may drop at any time.
When operating, one should not be overly aggressive; it is advisable to enter long positions when the price retraces to support levels.
The trading suggestions are as follows:
For Bitcoin, use the 73600 area as support and go long! The first pressure level to watch is 78000.
For Ethereum, synchronize with a support level of 2630 and go long, with the first pressure level to watch at 2800.
Public account: Liu Liu Says Coin (Weekly strategy analysis of Bitcoin and Ethereum from Monday to Saturday, long-term recommendations for quality individual coins and live analysis) #btc7772
