The market changes rapidly, and trading is about the present. We sing whatever song fits the mountain we face. The price of Bitcoin has shown a rebound, and I will summarize the announcement of the Federal Reserve's dot plot later. It was confirmed yesterday that there will be a rate cut of two times today. Moreover, the probability of a rate cut in June is significantly increasing. Although there is a high probability that there won't be a rate cut in April, there may be further cuts in May/June, with two cuts expected this year. Subsequently, the price rebounded from 82,000 directly up to over 87,000. Now a temporary downward adjustment has occurred, and we can observe that a super trend has formed a golden cross at the daily level. Previously, there were several attempts to form a golden cross, but the volume was insufficient. This time, a strong volume has pushed it up. It's not like before where it would just dip to new lows after a slight rise. If it can stabilize above 86,000 during the day, this wave will undoubtedly be a true stabilization and will have strong breakout potential.
We can observe that stablecoins are becoming increasingly robust. Another 250 million USDC has been minted on SOL, and everyone can take a look. The Bitcoin spot ETF has shown a good inflow status, and Ethereum has broken the 2,000 dollar mark. If it can truly stabilize above 2,200, Ethereum is likely to experience substantial upward momentum. If it can stand above 2,300, it will break through the resistance point of the daily descending channel trend, forming a new rebound market. Many people are disappointed with Ethereum and are shorting or selling their holdings. This choice is not quite right at the moment. We have also combined many observations. After all, Ethereum, as the second in line, hasn't shown much action this round. If it doesn't rise this time, the supporters may fall apart.
If this wave of Bitcoin pulls back to the lower position, I think we should make a long position, as there is a possibility of making a profit. Although the liquidation position during the day is between 85,000 and 83,000, there is still over 1 to 2 billion dollars in liquidation. Next, we will focus on pulling back to make long positions. That's all for today.#BTC 