After Bitcoin's intraday price reached the key resistance level of 93,000, it pulled back as expected. From the support structure perspective: a strong support zone is forming around 89,000, while the round number of 90,000 has weak support but can be lightly tested. Short-term resistance still focuses on 93,000, and if it can effectively break through, it will push towards the ultimate target range of 97,000-98,000 for this rebound, with a need to pay close attention to the volume situation.
With only 10 days left until the Federal Reserve lowers interest rates, the market's risk appetite remains high before the rate cut, providing fundamental support for a bullish trend. The 97,000 level corresponds to the 0.382 retracement on the daily chart, making it a clear layout node for a long position. Regardless of whether the interest rate cut occurs, this is a good opportunity to set up a long position. After the Federal Reserve lowers interest rates, there will be no more long positioning, and preparations for adjustments need to be made in advance.
Tip: Bitcoin 89000-90500 layout, looking at the long term near 97000–98000.
Ethereum 2870-2950 layout, looking at around 3420 for the long term.
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Bitcoin Market Outlook for Next Week:
After Bitcoin's intraday price reached the key resistance level of 93,000, it pulled back as expected. From the support structure perspective: a strong support zone is forming around 89,000, while the round number of 90,000 has weak support but can be lightly tested. Short-term resistance still focuses on 93,000, and if it can effectively break through, it will push towards the ultimate target range of 97,000-98,000 for this rebound, with a need to pay close attention to the volume situation.
With only 10 days left until the Federal Reserve lowers interest rates, the market's risk appetite remains high before the rate cut, providing fundamental support for a bullish trend. The 97,000 level corresponds to the 0.382 retracement on the daily chart, making it a clear layout node for a long position. Regardless of whether the interest rate cut occurs, this is a good opportunity to set up a long position. After the Federal Reserve lowers interest rates, there will be no more long positioning, and preparations for adjustments need to be made in advance.
Tip: Bitcoin 89000-90500 layout, looking at the long term near 97000–98000.
Ethereum 2870-2950 layout, looking at around 3420 for the long term.