The European Central Bank announced a 25 basis point rate cut, meeting market expectations for the first consecutive rate cuts! Moreover, there is a possibility of another rate cut in December.
Yesterday, Bitcoin spot ETF saw a net inflow of $473 million, continuing the trend of significant inflows this week, while the Ethereum ETF also showed net inflows this week.
Bitcoin
Last night, after multiple spikes to 66666, it rebounded and reached a high of around 68200 before pulling back. Therefore, short-term fluctuations will continue, and it is relatively difficult to chase highs. Our positions that were added near 60600 have not been reduced, and we will continue to monitor whether the 68500 level can break through. If it reaches 69500—70000, we will consider appropriate reductions.
The 4-hour MACD has crossed below the zero line, and we need to wait for adjustments. The 1-hour bottom divergence broke through this morning but is still under pressure below 68500. At the same time, we need to pay attention to the 4-hour ascending channel, which should not break down; if it does, we will need to reduce positions. Key support below is at 66000—66666.
Support: Pressure:
Ethereum
The daily chart's converging triangle remains unchanged, with short-term narrow fluctuations. The previous spike to 2687 is still below and cannot break through, leaning towards a pullback before rebounding.
The 4-hour chart also shows an irregular ascending channel similar to the previous wave; we need to pay attention to the channel's breakdown, which would require reducing positions. Although ETH/BTC rebounded to 0.384 yesterday and closed with a bullish candle, the rebound is still weak, so we should be cautious of further breakdowns.
Support: Pressure:
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Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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