Wednesday, March 20, 2024

Can the interest rate decision successfully explore the bottom as scheduled?

① 02:00 the Federal Reserve announces interest rate decisions and economic outlook summaries the next day
② 02:30 Federal Reserve Chairman Powell holds a press conference the next day

- Daily chart: After breaking through the 62000 support level, there was a slight pullback, and if the subsequent pullback does not break this support, it is still an upward trend.

- 1-hour chart: After a short-term break below the 66000 support level, there was a continued decline, and if the subsequent rebound does not break this resistance, there is still a downward trend.

II. Ethereum
- Daily chart: After breaking through the 3400 support level, there was a continued decline, and if the subsequent rebound does not break this resistance, there is still a downward trend.

- 1-hour chart: After a short-term break below the 3400 support level, there was a continued decline, and if the subsequent rebound does not break this resistance, there is still a downward trend.


I. Bitcoin
- Yesterday's view:

Summary: After a short-term break below the 69000 support level, there was a rebound, and if the subsequent rebound does not break this resistance, there is still a downward trend. The support below is at 63900 and 61300; if it breaks above, it will return to an upward trend, and the resistance above is at 70300 and 72800.
- Subsequent trend:

After the rebound in the subsequent trend failed to break the 69000 support level, there was a sharp decline, and it successfully reached the first target at 63900, with the lowest reaching 61582, close to the second target at 61300.
II. Ethereum
- Yesterday's view:

Summary: After a short-term break below the 3660 support level, there was a rebound, and if the subsequent rebound does not break this resistance, there is still a downward trend. The support below is at 3400 and 3300; if it breaks above, it will return to an upward trend, and the resistance above is at 3780 and 3930.
- Subsequent trend:

After the rebound in the subsequent trend failed to break the 3660 support level, there was a sharp decline, and it successfully reached the targets at 3400 and 3300, with the lowest reaching 3153.

I. Bitcoin
Summary: After a short-term break below the 66000 support level, there was a continued decline, and if the subsequent rebound does not break this resistance, there is still a downward trend. The support below is at 60500 and 58200; if it breaks above, it will return to an upward trend, and the resistance above is at 69300 and 72000.
II. Ethereum
Summary: After a short-term break below the 3400 support level, there was a continued decline, and if the subsequent rebound does not break this resistance, there is still a downward trend. The support below is at 3080 and 2950; if it breaks above, it will return to an upward trend, and the resistance above is at 3515 and 3630.


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