Master Ye's Hot Topic:
Currently, there are only 7 days left until the December 13th FOMC meeting of the Federal Reserve, and major officials have officially entered the quiet period. So at this time, we have only two ways to judge future interest rate hikes. One is the voice of the Federal Reserve, Nick, who commented on the October JOLTS job vacancy exceeding expectations, stating that the data indicates that the U.S. labor market is cooling, which is favorable for future rate cuts.
The other is the market's expectation represented by CME's forecast. Currently, CME predicts that the interest rate will remain unchanged in December, with a 12% probability of a rate cut in January, a 62% probability of a rate cut in March, and a cumulative rate cut of 125-150 basis points for the full year of 2024. Although there is not much suspense in this FOMC meeting, considering that this is the last quarterly interest rate meeting of the entire 2023, there will likely be a dot plot released, which should set the tone for 2024. Therefore, the impact of this meeting on the market should still be significant.
As the cryptocurrency market value continues to rise, everyone must pay attention to the risks. We have previously mentioned that the year-end market is now unfolding, but in the past few days, I have been reminding about the risks in the short term. Perhaps there will be a downturn at the end of the month, so it is important to strictly understand stop-loss and take-profit strategies in the short term.
If you miss this wave of market trends, there is no need to worry, because there will be plenty of opportunities next year. After the New Year, there should be one last opportunity to get on board, and I will remind everyone at that time. Next year, accompanied by the expectation of the Federal Reserve's interest rate cuts, there will be a grand celebration.
Asset management company BlackRock and cryptocurrency investment company Bitwise recently submitted revised S1 forms to the U.S. Securities and Exchange Commission (SEC), answering further questions that the regulatory agency may have raised in previous discussions.
Master Ye's Trend Analysis:
After a brief adjustment yesterday, the overall market is now showing signs of returning to an upward trend, and the trend is unstoppable. The strong resistance above the market is near 48000, and the closer it gets, the greater the risk of a pullback. However, this is not evident from the current market, but it looks very healthy. Since breaking through 38000, there have been no signs indicating a short-term retracement. If the strength continues, there may be a direct push to 48000 in the short term, and even a touch of 50000 is possible.
12.7 Master Ye's Short-term Pre-set Orders
BTC Trading Suggestions:
Long near 43500-43700, defend at 300, target 44300-44600
ETH Trading Suggestions:
Long near 2220-2240, defend at 20, target 2270-2290
More strategies can be added to live trading
Candlesticks rule, trend is king. I am Master Ye Chen, focusing on BTC and ETH spot contract for many years. There is no 100% method, only 100% trend following. I update macro analysis articles and technical analysis review videos daily across the web. 
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