Hot Spot in Spot Market
SATS is currently running in a bullish channel and can be bought and held appropriately.
Market Analysis
BTC is oscillating around 58000, with the overall recovery of altcoins and the comprehensive upward trend of AI sector. The hourly chart of BTC broke through and stabilized around the 58000 level last night. Intraday attention should be paid to whether the 4-hour high point of 58500 can be pierced. If successful, I see a rapid rise. If it fails to break through, there is a high probability of a sharp decline to the previous low of 52500 or inability to hold. Also, pay attention to the lack of upward trend in the moving average on the cyclical level, coupled with the collective rise of the three major U.S. stock indices and the impact of various news on interest rate cuts next week. It is unquestionable that there will be consolidation and washing. Be prepared for short-term risk control and just sit back and watch the situation unfold!
BTC Resistance: 58500-59400
BTC Support: 55900-52600
ETH, the second largest cryptocurrency, has seen a narrowing overall volatility, with daily fluctuations of no more than 5% for over three days. From the chart, the lower bullish channel has been broken, and it continues to run in a bearish channel today. Therefore, from a structural perspective, it is still advisable to short on rallies, and it remains distant from the overall market. As BTC experienced a wave of upward movement, ETH remained relatively weak. Pay attention to whether the intraday high point of 2371 is broken. On the downside, look for the bottom deviation at 2300-2266-2209. It is best to be prepared for risk control and defense when entering the market. For more real-time entry and exit opportunities, scan the QR code at the bottom.
ETH Resistance: 2408-2485
ETH Support: 2319-2241
Key Data and News Analysis in the Cryptocurrency Circle
Macroeconomics: U.S. stock indices collectively rose, and the Federal Reserve will meet next week
The three major U.S. stock indices collectively rose, with the S&P 500 index up 0.75% at 5595.76 points, the Dow Jones index up 0.58% at 41096.77 points, and the Nasdaq index up 1.00% at 17569.68 points. The yield on the benchmark 10-year U.S. Treasury bond is 3.68%, and the yield on the 2-year U.S. Treasury bond, which is most sensitive to the Fed's policy rate, is 3.64%.
In popular U.S. stocks, Apple rose 0.05%, Microsoft rose 0.94%, Nvidia rose 1.91%, Amazon rose 1.34%, Google Class C rose 2.23%, Google Class A rose 2.34%, Meta rose 2.69%, TSMC rose 0.72%, Tesla rose 0.74%, and AMD rose 0.61%.
The most important news at the moment is the upcoming meeting of the Federal Reserve next week. This is a silent period for the Fed, during which Fed officials cannot make public statements. Important economic data has already been released, and Jerome Powell has already made a speech. Therefore, the positive market sentiment will continue until the speeches of Fed officials after the interest rate cut next week. If the Fed only cuts rates by 25 basis points, it is believed that it will not have a significant impact on cryptocurrencies. Instead, the number of rate cuts by the Fed for the rest of the year needs to be watched. Based on the current inflation figures, the market estimates that there will still be 2-3 rate cut decisions. However, this still needs to be observed, as U.S. inflation remains uncertain.
Summary
The current market shows some signs of recovery, especially driven by the GameFi and AI sectors. However, the overall market sentiment remains relatively low, and investors need to remain cautious in their operations. Bitcoin's stable performance and the relatively low AHR999 index provide a good buying opportunity, while the rebound of altcoins also provides opportunities for short-term investments. Macroeconomic factors such as the performance of the U.S. stock market and the dynamics of the Federal Reserve will continue to affect the market, and investors need to closely monitor the changes in these factors.
Personal Introduction
Graduated from the Finance Department of Nanjing University, formerly worked as a risk management expert at Shanghai Yimeng Securities and a private wealth advisor.
First invested in BTC in 2015 and has been focusing on the cryptocurrency market for nine years, experiencing multiple bull and bear cycles.
Integrates profound financial expertise and sufficient industry experience into practical combat.
Helps students quickly master trading skills and improve trading systems.
Trading style: Skilled in building structured thinking, self-created financial trading course Naked K Strategy, etc.
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