Bitcoin and Ethereum Price Turnaround Coming! Storm Warning Next Week! The Federal Reserve's rate cut is met with hawkish resistance, and the rate decisions of the Bank of Japan, European Central Bank, and Bank of England are in position. Non-farm payrolls and CPI data are also about to be announced. The US dollar index at 98 is teetering on the edge of collapse, and the cryptocurrency market's calm is about to be shattered!

​This past week, the Federal Reserve rate cut event caused significant market fluctuations. However, expectations were bought and the reality sold, which ultimately only pushed Bitcoin higher before pulling back. Overall for the week, Bitcoin ranged from an initial $89,000 to $94,000, then back to around $90,000 by the weekend. Ethereum also moved from $3,000 to $3,400 early in the week, then retreated to around $3,100 by the weekend. After a rollercoaster, prices returned to the levels from a week ago. Overall, it remains quite calm, but more like the calm before the storm!
​The positive effects of the Fed's rate cut have already materialized. Next week, the Bank of Japan, European Central Bank, and Bank of England will all announce their rate decisions, and monetary policies seem to be changing across these countries. Especially with the Bank of Japan almost certain to hike rates, cryptocurrencies may face renewed pressure. Additionally, non-farm payrolls and CPI data will be released, likely showing more economic inflation issues, providing more reference for whether the Fed will cut rates next time. Several Federal Reserve officials will also speak next week, which will significantly impact the crypto market!
​From a technical perspective, Bitcoin's weekly chart indicators still show ongoing bearish expansion. On the daily chart, Bollinger Bands are slowly flattening and narrowing, with the upper band at 93,500 and the lower at 87,500, continuing to contract until a breakout occurs. This is the range to watch next week.
​Ethereum's weekly MACD shows signs of slight recovery with diminishing bearish momentum. On the daily chart, the current price is right at the middle band, with the upper at 3,300 and the lower at 2,850, also narrowing and flattening. A breakout from this range is expected next week.
​With the US stock market closed for the weekend, Bitcoin and Ethereum are experiencing little volatility. Currently, Bitcoin remains sideways near the 90,000 level, with signs of recovery. Short-term resistance is at 92,000 and 93,500, while short-term support remains at 89,000 and 88,000.
​Ethereum's key support zone at 3,000 is strong; after pulling back to this area, prices have rebounded. Short-term resistance is at 3,160 and 3,250, while support is at 3,000 and 2,930. $BTC #加密市场反弹