The early morning interest rate decision will not be analyzed. The results have already been revealed. The US dollar index has once again surged to refresh recent highs. During the US session, Bitcoin was affected by market buying pressure, causing it to surge and then fall back, ultimately dropping again after the market news came out.
On the previous trading day, the price of Bitcoin reached near 27380, and then fluctuated within a range, breaking the previous upward trend. The evening meeting indicated no immediate interest rate hike, causing the price to pull back after the upward trend, dipping to around 26740. The price fluctuated by over 600 points throughout the day. We also bought at the bottom during the night, and currently the price is near 27000.
The support around 26900 for Bitcoin is relatively strong. The current trend is in the bottom probing stage. After stabilizing, there will definitely be a significant market rally. Based on the current technical pattern, the support is around 26900. Long positions should be taken before a breakthrough occurs. The hourly K-line is fluctuating between the middle and lower rails, and the MACD is close to the 0 axis, tending to stick together. It is not advisable to be bearish in the short term, so we still lean towards being bullish, focusing on low long positions during the day.
Bitcoin strategy: Long near 26900, target near 27300
Ethereum strategy: Long near 1610, target near 1645
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