🔥 What?! A Fed official turned hawkish overnight and said rates should be raised, yet BTC and ETH went up instead?
The market is just that counterintuitive. Cook said, “If inflation does not slow, I am prepared to support a rate hike.” Normally, that should be bearish, but Bitcoin and Ether rose instead of falling—BTC broke above $65,000, while ETH climbed above $1,900. Why? Because the market had already priced in the negative expectations, and funds are instead looking for opportunities.
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📊 Bitcoin$BTC
EMA7(64,684) and EMA25(64,398) are both providing support below, with the short-term moving averages in a bullish alignment. Bulls can watch for stabilization on a pullback to the 64,400-64,600 range;
Bears should patiently wait and watch the 65,200-65,500 region, where resistance lies. RSI(6) has reached 66.9, so chasing short-term gains offers poor risk-reward.
$ETH
The current price is around 1,910. EMA7(1,906) has just crossed above EMA25(1,888), signaling short-term strength. If the price holds above 1,890-1,900 on a pullback, bulls can try a small position; bears should watch the 1,930-1,950 resistance zone. RSI(6) has reached 68.6, approaching overbought territory, so don't chase.
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⚠️ Two other developments are worth watching:
· Strait of Hormuz: Iran says it will close the two existing shipping lanes, while the new lane is temporary. Geopolitical uncertainty remains until the situation is finalized.
· Gold$XAU
surged 4%+, with the current price around 4,254. Risk aversion is present, which is a double-edged sword for the crypto market.
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Remember: News is the catalyst, but the chart is the answer. Keep your position size under control before the direction becomes clear, and don't go all in.
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