Don't worry if you have no confidant on the road ahead, there are like-minded people on the investment road. Hello, everyone, I am BitKing from the Coin Victory team. I am very happy to take this time to review the recent market trends in the cryptocurrency circle with everyone. Due to certain reasons, we have not published articles, videos, or live broadcasts for a long time. However, starting from the coming week, we will resume our regular updates of articles and videos, as well as daily evening live broadcasts. We hope that both new and old friends will support us.

First, let's review the recent news. It can be said that the biggest news in the cryptocurrency circle this year is the Fed's interest rate cut. It finally settled last week. This interest rate cut has brought about a significant market outlook. Whether it's the stock market, the cryptocurrency circle, or the reactions from central banks around the world, the most direct effect of the interest rate cut is the rapid market surge. We can also consider this surge from different perspectives.

For the bullish, this surge is seen as the opening bell of a bull market. The first interest rate cut was a direct 50 basis points, which is very bullish. The subsequent crazy interest rate cuts could possibly bring about a bull market similar to that of 20 years ago. However, from the bearish perspective, the previous interest rate hikes were in the hundreds of basis points, while the current interest rate cut is only a few tens of basis points. Also, the Fed's stance on whether there will be strong interest rate hikes in the future is ambiguous, suggesting that the interest rate cut may make a lot of noise but lack technical support in the future. Here, BitKing has summarized the market's viewpoints. Next, I would like to give my own perspective on this interest rate cut.

We need to understand the reason behind this interest rate cut. Is it because Powell wanted to cut interest rates, or was the market forcing Powell to cut interest rates? If the audience understands the Fed's history of interest rate cuts, they should know that each round of Fed interest rate cuts is often accompanied by the collapse of a medium to large-sized country, and the Fed's interest rate cut is like a hawk gnawing at their carcass. In this round, we can see that due to the influence of a certain eastern country, some medium to large-sized countries in the world have not experienced severe economic collapses. The countries that have encountered problems are only those like Egypt and Argentina, whose economic size is not enough to allow the Fed's interest rate cut to land smoothly. Why did the Fed rush to announce the interest rate cut this time? It's simple. It's because the old capital behind the Fed found that they couldn't limit China's global economic impact through technical means. The RMB remains strong and the exchange rate remains stable. Originally, this round of interest rate hikes was an attempt by the Fed to use technical means to explode the Chinese economy and to recover the excess USD issued by Trump and Biden over the past two years through a 5% interest rate. But currently, the goal has only been half achieved. Because once the Fed cuts interest rates, these excess USD will re-enter the market. The overwhelming USD will flow back into the world. To stabilize the value of the USD, it is necessary to provide an equivalent anchor for the excess USD. Previously, this could have been oil or Chinese goods. But currently, the relationship between the Middle Eastern countries and the United States is not good. The trade friction between the United States and China has also led to a gradual decoupling of Chinese goods from the USD. So, watching the Fed make a big fuss about raising and cutting interest rates, paying a huge cost, and then finding that there are not many takers in the market, I also hope everyone realizes that this interest rate cut is not really the start of a bull market. What is the essence of a bull market? It's the presence of excess hot money in the market. Even though the Fed has cut interest rates by 50 basis points, the current interest rate is still 4.5%, which is still higher than all other countries in the world. If there are viewers who really want to determine their entry timing by observing the Fed's actions, it is still too early now. It may be necessary to wait until the Fed cuts to below 3% before it's possible. Based on the current statements of Fed officials, there may be two more interest rate cuts this year, and the magnitude may drop to around 4%. So, we can basically predict that the real bull market will be next year, in 2025.

Many friends who read BitKing's articles and videos are mostly ordinary people. Here, BitKing wants to say that please endure a little longer, refrain from making unnecessary expenses in the next two years, and refrain from making casual investments. Currently, the situation can only be described as uncertain. After everything settles, it will be the time for ordinary people to enjoy the dividends of the struggle. Perhaps the first to eat the crab can make a big profit, but they may also be the first to suffer.

After discussing the macro aspect, I would like to talk about the recent technical aspect with everyone. First, let's look at the Bitcoin market. From the perspective of the daily chart, it has already shown a 6-day consecutive rise. If it closes higher today, it will be a 7-day consecutive rise. However, we can observe a phenomenon. Starting from last Friday, there has been a continuous struggle in the market, indicating that the current market's long and short differences are quite serious. Such indicators often represent a very representative signal of a turning point in the market. So, facing today's market, my first conclusion is to be cautious about chasing long positions. Conversely, for the resistance above, you can try short positions. With this mindset, we can look for short-term entry positions through shorter timeframes. Looking at the hourly chart, the key resistance level is around 65,000. So, entering at around 64,800 can be considered, with a stop loss slightly above 65,200 or 65,300. For those who want to go long, there are two options for the lower side. The first is to consider entering long positions at 63,500, with a stop loss of 200 points. If you want to wait for an opportunity, the only solid position on the lower side is in the range of 62,300 to 62,000. Enter long positions directly in this range, with a stop loss of 500 points. The profit potential for this trade at 65,000 is quite significant, as long as there is an opportunity.

In terms of Ethereum's market, compared to Bitcoin, it is quite similar. First, let's look at the daily chart of Ethereum, which shows a 5-day consecutive rise, followed by a slight decline, and then another appearance of a bullish candle. In the short term, Ethereum is slightly stronger than Bitcoin. From the current market perspective, Ethereum will likely experience a period of consolidation before a decline. It is a trend that Bitcoin will drop first, and then Ethereum will follow. In the short term, as long as Ethereum does not break through the 2700 level, you can consider setting up short positions with a stop loss around 2720, and target a level around 2580. For long positions, you can consider entering at around 2550, with a stop loss of 30 points. If the stop loss is unexpectedly hit, consider entering at around 2420.

Coin Victory Team: Don't worry if you have no confidant on the road ahead, there are like-minded people on the investment road! I hope to help everyone manage risks while creating profits, allowing your investments to generate value, and to walk a long way in the cryptocurrency circle, not letting down the encounters and trust of everyone. The real-time guidance is available in the live trading group, and I am online 24 hours a day. If you have any questions, you can leave a message. The daily strategy and entry points will be updated on the team's official WeChat account, Coin Victory Team. Any changes in the market will be notified in the group.

The road ahead is long, and I will seek and explore. The market has its rules, but often the human heart is unpredictable. For friends who want to make long-term stable investments in the cryptocurrency circle, it is important to cultivate oneself internally and act externally. This is also why we have always insisted on providing technical training. Maintaining a cautious attitude in the cryptocurrency circle, you may miss opportunities, but staying alive in this industry is more important than anything else. For every investor, their investment history is also their own history of growth. Here, BitKing hopes to walk with everyone, enjoying the scenery along the way, and not forgetting the original intention.

Specializing in contract trading for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, focusing on high and low support and pressure, short-term trend trading, medium and long-term trend trading, extreme retracement on the daily chart, top prediction on the weekly chart, and head prediction on the monthly chart. Whether it's spot or contract trading, BitKing has experience in both. The main focus of joining the live trading group is for contract users. Please be aware.

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