As the Federal Reserve interest rate meeting approaches, the cryptocurrency market shows a clear wait-and-see attitude. From a technical perspective, Bitcoin's current daily chart has formed a doji pattern, with limited intraday fluctuations and no clear price trend established. Market participants are generally waiting for the Federal Reserve meeting announcement and subsequent speeches at 2 a.m. to determine the direction.
Technical analysis shows that the key support level for Bitcoin is still the 60-day moving average around 10.22, while on the 4-hour timeframe, the price has attempted multiple times to break through the 256-day moving average resistance level in the 10.5-10.55 range. This area has become a key level determining the short-term trend.
Ethereum's performance was equally cautious, forming a doji green candlestick for three consecutive days, encountering significant resistance at more than 2570/2610/2670 levels, and being suppressed by the 256-day moving average at 2530 in a 4-hour period. The market focus is also on whether it can effectively break through and gain a foothold in this pressure zone.
Based on the current market conditions, the trading recommendations are as follows:
Regarding Bitcoin, consider setting long entry points at 10.26/10.2, with target levels set at 10.35/10.45; if it rises to the 10.5/10.6 area, consider shorting, expecting a pullback of 200-300 points.
For Ethereum, it is recommended to go long at the 2450/2380 level, with target levels at 2500/2550; if it rises to the 2550/2600 area, a short strategy can be adopted, with target levels set at 2500/2400.
The current market is at a critical time point, and the Federal Reserve's decision is likely to become a catalyst that guides the short-term market direction. Investors should remain vigilant and flexibly adjust their strategies.
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BangJe
· 06-18 18:32
Bull Run 🐂
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Hero,EarnUToBuyALandCruiser
· 06-18 18:23
Does a rate cut mean a big pump, while no cut means a big dump?
As the Federal Reserve interest rate meeting approaches, the cryptocurrency market shows a clear wait-and-see attitude. From a technical perspective, Bitcoin's current daily chart has formed a doji pattern, with limited intraday fluctuations and no clear price trend established. Market participants are generally waiting for the Federal Reserve meeting announcement and subsequent speeches at 2 a.m. to determine the direction.
Technical analysis shows that the key support level for Bitcoin is still the 60-day moving average around 10.22, while on the 4-hour timeframe, the price has attempted multiple times to break through the 256-day moving average resistance level in the 10.5-10.55 range. This area has become a key level determining the short-term trend.
Ethereum's performance was equally cautious, forming a doji green candlestick for three consecutive days, encountering significant resistance at more than 2570/2610/2670 levels, and being suppressed by the 256-day moving average at 2530 in a 4-hour period. The market focus is also on whether it can effectively break through and gain a foothold in this pressure zone.
Based on the current market conditions, the trading recommendations are as follows:
Regarding Bitcoin, consider setting long entry points at 10.26/10.2, with target levels set at 10.35/10.45; if it rises to the 10.5/10.6 area, consider shorting, expecting a pullback of 200-300 points.
For Ethereum, it is recommended to go long at the 2450/2380 level, with target levels at 2500/2550; if it rises to the 2550/2600 area, a short strategy can be adopted, with target levels set at 2500/2400.
The current market is at a critical time point, and the Federal Reserve's decision is likely to become a catalyst that guides the short-term market direction. Investors should remain vigilant and flexibly adjust their strategies.