Tonight at 3 o'clock, the Federal Reserve will hold an interest rate meeting. The previous meetings have each become turning points in the trend.
As can be seen from the position circled in red, the trend of BTC during the interest rate hike period shows that BTC tends to oscillate and consolidate before and after the interest rate hike. After the interest rate hike, a new trend often emerges. The most obvious examples are the meetings on June 15th and September 21st, which correspond to two recent low points.
BTC:
In the past few days, Grayscale has continued to transfer BTC to Coinbase, which has a bearish impact on BTC. BTC has been trending higher along the 5-day moving average and is still in a rebound market. The hourly chart shows continuous pin bars, confirming resistance within the range. The key level within the range is $43,288. BTC needs to break through $43,288 with strong volume in order to quickly rise and enter a new round of bullish momentum. Next, BTC is expected to peak and then pull back at $43,288.
Resistance levels: $43,288, $43,856, $44,432
Support levels: $42,708, $42,054, $41,436
ETH:
There have been multiple large ETH on-chain movements, which have a bearish impact on ETH. ETH has rebounded along the 5-day moving average, and the hourly chart shows continuously rising lows, confirming bullish support. The key level for the pin bar is $2,365.4. Only by holding above $2,365.4 can ETH establish a bottom and strengthen, entering a bullish trend. Next, ETH is expected to peak and then pull back at $2,365.4.
Resistance levels: $2,365.4, $2,392.7, $2,423.5
Support levels: $2,313.5, $2,289.4, $2,262.6
BN lists JUP, SOL's ecosystem warms up, and Standard Chartered reveals plans to list an ETH ETF in mid-year. It is advisable to pay attention to related L2 and other hotspots, and be cautious of any market movements brought about by tonight's interest rate hike.
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