Zhou Yanling: The Fed's Rate Cut on 9.17 is a Done Deal - Latest Trend Prediction and Trading Strategy for Bitcoin BTC and Ethereum ETH Today
Many people will feel a sense of "excitement" tonight as significant data is about to be released. However, for such data-driven market movements, Yanling suggests maintaining a relatively calm mindset. Having been in this industry for so long and experiencing many ups and downs, I tend to prefer observing during the data release period. This isn't the first time this has happened; the practice of buying on expectations and selling on facts is too common. The rate cut decision has almost been set in stone beforehand, so the expected market movement has already occurred. Tonight's announcement is likely to be just a quick roller coaster ride, and there's no need for excessive excitement. Additionally, Powell signaled last month that he would prioritize employment issues over persistent inflation concerns. Since the rate cut decision is almost a certainty, everyone will be closely watching whether Powell will further shift his stance based on previous comments. Moreover, the dot plot is also crucial as it will reflect the Fed members' expectations for rate cuts this year, next year, and the year after.
In terms of Bitcoin's price action, the daily chart has recently been fluctuating around 116,600, forming a long upper shadow yesterday, indicating strong selling pressure above. On the hourly chart, there have been consecutive small bullish candles, but the overall volatility has weakened, and it may enter a consolidation phase in the short term. The MACD technical indicator on the hourly chart shows that the DIF and DEA are gradually converging, with the red bars shortening and momentum weakening, indicating a risk of a pullback. The daily MACD remains in a bullish state, but the red bars are starting to shrink. The RSI on the hourly chart is at 59.29, not yet in the overbought zone, leaning towards consolidation in the short term; the daily RSI is at 63.68, close to the overbought area, so caution is needed for high-level adjustments. The 7-period EMA on the hourly chart has been broken, while the 30-period and 120-period EMAs are in a bullish arrangement, providing effective support; the daily EMA system maintains a bullish trend.
Zhou Yanling's Trading Strategy for Bitcoin on 9.17:
Buy at 115,500-116,300, stop loss below 114,500, target 117,500-118,500, continue to look for upward movement towards around 120,000.
Sell at 119,000-118,200, stop loss above 120,000, target 117,000-116,200.
Zhou Yanling's Trading Strategy for Ethereum on 9.17:
Buy at 4,385-4,430, stop loss below 4,340, target near 4,550; if it breaks above 4,480, continue to look towards around 4,680.
Sell at 4,670-4,630, stop loss above 4,720, target 4,540-4,500.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing and responsible character combined with sharp and decisive operations.
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