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Overnight, the three major indexes collectively rose, with the Dow rising by 0.69%, the Nasdaq by 1.30%, and the S&P 500 by 0.61%, all hitting new closing highs. Powell was very clear in his interview last night, signaling a rate cut, believing that the current unemployment rate is still low enough to continue cutting rates. For the first time, he publicly supported BTC, likening it to gold, giving official recognition to the long-standing notion of digital gold. He also emphasized that the rate cut cycle will not change. After the news came out, BTC broke through the multi-day blockade, triggering a rise in the crypto market once again. Most of the old currencies have doubled, but such trends will also rotate within the zone at any time. If you blindly chase the market in such trends, it may be a moment of deception.
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This round of the cycle does not have the rhetoric of the alts season. It feels like it is constantly experiencing confirmation-falsification-confirmation-falsification, in such a cycle. Indeed, who could have predicted that the VC coins would be so bleak this year, and who could have predicted that after Trump took office, the old coins would skyrocket. LTC, BTC, ETH, EOS, XRP have successively skyrocketed in the past few weeks. The encryption industry is so stimulating, no one can predict perfectly, there are always new surprises and scares. But in the moment when AltCoinzone is booming, in fact, many people complain that they still haven't made money, either trapped or Cut Loss. In fact, it's simple, you always can't keep up with the rhythm, can't keep up with the rhythm of zone rotation, jumping back and forth and don't believe in the power of news and narrative. The operating strategy is always to explore the predictions of the experts. Many 'experts' rely on moving averages, Candlestick, cycles, this wave, that wave, one moment golden cross, one moment death cross, completely without their own system and rhythm for trading. Trading in the financial market should follow the market trend rather than following the rhythm of these 'experts'!
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BTC encountered resistance after pulling back to the support level of 94650 yesterday and long positions saw a rebound and rise again. With the help of the pullback, BTC reached a high point of 99099 in the early morning but faced pressure. BTC continued its upward trend, returning to the 98000 level. The daily candlestick formed a strong bullish candle, breaking through the previous range, indicating a high probability of breaking through 100,000 today. We will continue to go long according to the trend, as pullbacks can lead to direct long positions now that the previous resistance has been broken. The market has been making significant moves, and on the hourly chart, the price has experienced a strong rally. As long as the overall trend remains unchanged, any pullbacks could be bear trap behavior. This means that when the market experiences a brief pullback, it is important to calmly analyze the overall trend and support levels. As long as long positions remain strong, it is advisable to hold on to the long positions. Another rally is expected in the morning, so those who have not entered the market in the morning can wait for a pullback and catch the bottom long position.
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After ETH rebounded to the 3736 level in the midnight at Ethereum, it rose synchronously, reaching a high of 3891 in the early morning, refreshing the high point again. The coin price is going through a process of exploring highs and pressures, continuously confirming high points, showing a rhythm of consolidation and correction in the overall trend. The market space is gradually converging, and the competition in the high range is becoming more intense. In the medium term, we still need to patiently wait for the arrival of the breakthrough opportunity. On the 4-hour level, the coin price has risen around the middle track and gradually regained the ground lost in the fall. In the short term, as long as it does not fall below the rising point, the downside space will be limited to a certain extent, maintaining the bullish view.