Market Review

The anticipated evening decline arrived as expected. I believe those who followed my posts have now secured substantial profits of over 2,000 points. Influenced by the Fed’s interest rate cut, the US stock market opened lower and continued to fall in the evening, indicating that the rate cut news fell short of expectations. Subsequently, BTC began to decline, dropping below 90,000 points in the evening. Bulls and bears repeatedly battled around the 90,000 level, resulting in intense market competition.

Looking at the four-hour chart, the Bollinger Bands continue to narrow, with the upper band resistance at 92,800, middle band support at 90,400, and lower band support at 88,000. The price has been fluctuating above the middle band for a long time without touching the upper or lower extremes, a typical sign of a "consolidation phase." In this pattern, bullish and bearish forces are temporarily balanced. A breakout above the upper band would open up upside potential, targeting the previous double-top neckline at 93,600; a break below the lower band would weaken the trend, with the next support at the previous pullback low of 89,200.

On the one-hour chart, the Bollinger Bands have entered an extremely tight convergence, with the upper band at 92,000, middle band at 91,500, and lower band at 91,000. The band width is less than 1,000 points, indicating a calm period before a breakout. The price has been fluctuating around the middle band, with multiple attempts to break above the upper band being suppressed, and quick rebounds after testing the lower band, reflecting intense market competition. The KDJ indicator's J value turned downward after peaking at 85, about to form a bearish crossover, indicating strong short-term correction pressure. The MACD is consolidated above the zero line, with slight increases in the red histogram but weak momentum, showing bulls lack strength for an upward attack. The main strategy at midnight is to short on rebounds.

Short BTC near 90,000, target around 88,400
Short ETH near 3,110, target around 3,060 #美联储降息预测 #比特币活跃度走高