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The minutes of the Federal Reserve meeting released on Wednesday showed that most officials believe that the risks facing the job market have increased and that progress has been made in achieving inflation targets. Policy makers strongly favor a rate cut in September, with some even suggesting a cut in July. With clear expectations of a rate cut, the three major US stock indexes rose collectively on Wednesday. The Dow rose 55.52 points, up 0.14%; the Nasdaq rose 102.05 points, up 0.57%; and the S&P 500 index rose 23.73 points, up 0.42%. The overall cryptocurrency market stabilized and rebounded, showing rotation among different zones, with narrower market fluctuations and slightly increased trading volume. BTC broke through $61,000 after repeated fluctuations, and the encryption market showed signs of recovery.
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BTC yesterday's trading hours relied on the 58500 support to consolidate in a small range. The overnight surge of a big bullish candle brought the price back above 61000. However, the previous resistance at 62000 is not easy to break through, so it is inevitable to be under pressure. Currently, the trend is still washing up and down, but the overall range has moved up. From the perspective of the daily candlestick, it is likely that the coin price will eventually stand on the middle track and may end up with a small bullish candle. The rebound high may continue to be refreshed. In the 4-hour chart, BTC has been drawing doors and V-reversals non-stop these days. In the current trend, we need to follow whether the 60000 level can stabilize today. Intraday, we should first observe the situation of pullback following the 60000 support before making arrangements.
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After-hours Ether price fell to the 2534 level, and then the price retraced. The overnight high touched near 2663, and the short-term four-hour chart has already stabilized below the lower Bollinger Band at 2550. Is the momentum of Accumulation at the bottom of the Order Book sufficient now? The midline at 2615 has already been broken, and the KDJ golden cross is forming. If 2640 stabilizes again, the MACD will show a volume increase in fundraising, and the DIF and DEA golden cross will form, following the situation of breaking through 2680 in the short term!
BTC-1.54%
ETH-1.71%
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