Yesterday, the market showed a demand for correction throughout the day. In last night's live broadcast, we mentioned the key corresponding support level. BTC dipped to around 114300 at its lowest before stopping the fall and recovering, providing a certain rebound and rise. Currently, it is fluctuating and consolidating around 115000. As for Ethereum, it dipped to around 4460 at its lowest yesterday before the long positions increased in volume, and the overall market maintained a rebound and consolidation above the key support level. Ethereum is also showing signs of a virtual breakdown at the bottom, indicating a bottom formation trend, with long positions remaining strong in the future.

From the current BTC daily structure, after yesterday's close with a doji candle, there is again a tendency to turn bearish today. The upper band of the Bollinger Bands is currently slightly expanding, but due to the Fed's interest rate cut expected to be announced early Thursday morning, overall, it still appears to be in a corrective phase. Looking at the current four-hour chart, the overall market is still maintaining an upward channel. After the market reached the peak of the upward channel, it has undergone a corrective consolidation. After retracing close to the key support level at the bottom, it managed to recover. Currently, the Bollinger Bands are also showing a flattening pattern. Although the mid-band is under pressure during the short-term rebound, the support at 114500 remains quite strong, so the future operations can still maintain an upward mindset.

BTC can go long in the range of 114500-115000, looking at around 117000. Ether can go long in the range of 4470-4500, looking at around 4700 #btc #eth #美联储降息预期升温