Today is Monday, September 9th, and the market activity is at an all-time high! With the expectations of interest rate cuts in the U.S. continuing to heat up, the entire financial circle is in an uproar! The market generally predicts that a rate cut this month is a done deal, but the key question is—how much? Even high-ranking officials from the Federal Reserve have stated, "All actions will be guided by the data!" Currently, the job market is sluggish, while inflation is quietly rising, creating a contradictory situation that makes the prospect of rate cuts quite murky! It is precisely because of the overwhelming uncertainty that safe-haven funds are flooding into gold, pushing prices close to the 3650 mark! Bitcoin is also not to be outdone, oscillating near 113000, while Ethereum pulled back slightly after a surge, with the overall trend presenting numerous opportunities!
Here comes the key point! A wave of significant data is about to bombard the market today! At 6 PM, the U.S. August NFIB Small Business Confidence Index will be released, followed by the non-farm annual benchmark revision data at 10 PM, and in the early morning, there will be the EIA energy report, the Apple new product launch, and even the API crude oil inventory report at 4:30 AM! With so much data coming in rapid succession, market fluctuations are sure to exceed expectations!
From a technical perspective, Bitcoin's current trend is crucial! The resistance level at 124300 is firmly suppressing it, with the central resistance zone between 115770-119900, which is a line that the bulls must break through! However, don’t panic; the upward structure at 107200 has not been broken, and the key support for short-term pullbacks is between 108300-109000. Looking at the 4-hour candlestick chart, the battle between bulls and bears is intense, with the MACD fast and slow lines under pressure above the zero axis, and the momentum bars continuously shrinking, clearly indicating that it is gathering strength for a big move!
On the Ethereum side, it’s even more exciting! The structure is repeatedly oscillating, and the battle between bulls and bears has reached a fever pitch! The short-term support level at 4205 is an absolute lifeline; if it breaks, caution is warranted! The three failed patterns at the upper level of 4500 suggest bearish pressure, and the oscillation central zone between 4250-4415 could change at any moment! The 4-hour candlestick chart shows a three-part pattern, with the MACD fast and slow lines poised for a death cross below the zero axis, and every indicator is reminding us— a change in trend could happen in an instant!
Finally, let me emphasize the trading rule: always set a stop-loss when opening a position; if you don’t set a stop-loss, don’t enter a trade! If you encounter issues like being stuck in a position, don’t hold on stubbornly!
Follow the public account: KK Communication, to help you manage every trading detail.
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