Happy weekend! The recent sharp decline in cryptocurrency prices is mainly due to changing expectations of Federal Reserve policies: Yellow Hair nominated hawkish Kevin◇ Waugh as Federal Reserve Chair, market anticipates he will push for balance sheet reduction and delay interest rate cuts, causing concerns over tightening dollar liquidity; combined with a 17% single-day plunge in silver triggering panic in commodity markets, tech stocks in the US stock market also declined in tandem, multiple negative factors resonated, leading to the sell-off of cryptocurrencies and other risk assets.
From a technical perspective, Bitcoin's daily chart shows a small bearish oscillation, with bulls and bears fighting, moving averages in a bearish alignment, with obvious upward resistance. Overall, it remains in a rebound correction within a downtrend, stabilizing but the trend has not reversed.
Trading suggestions Bitcoin 84500-84800 range short, target 83000-82500. Ethereum 2720-2760 range short, target 2680-2600#贵金属行情下跌
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
This viewpoint is now widely accepted
Saturday Morning
Happy weekend! The recent sharp decline in cryptocurrency prices is mainly due to changing expectations of Federal Reserve policies: Yellow Hair nominated hawkish Kevin◇ Waugh as Federal Reserve Chair, market anticipates he will push for balance sheet reduction and delay interest rate cuts, causing concerns over tightening dollar liquidity; combined with a 17% single-day plunge in silver triggering panic in commodity markets, tech stocks in the US stock market also declined in tandem, multiple negative factors resonated, leading to the sell-off of cryptocurrencies and other risk assets.
From a technical perspective, Bitcoin's daily chart shows a small bearish oscillation, with bulls and bears fighting, moving averages in a bearish alignment, with obvious upward resistance. Overall, it remains in a rebound correction within a downtrend, stabilizing but the trend has not reversed.
Trading suggestions
Bitcoin 84500-84800 range short, target 83000-82500.
Ethereum 2720-2760 range short, target 2680-2600#贵金属行情下跌