Although Bao's speech last night did not make a clear statement, it was generally regarded by the market as a strong signal, which increased the probability of interest rate cuts. Affected by this, the big cake rushed to around 65,000 in one fell swoop, and the concubine also rebounded to around 2,800, showing strong market vitality.
However, after encountering resistance and stepping back in the morning, the big cake is currently stable at around 63,900, and the concubine is around 2,750. From the daily level, the big cake is likely to break through the 180-day moving average pressure position, showing a strong upward trend. In contrast, the concubine appears relatively sluggish, and the mid-line can only see the 250-day moving average position. It can be foreseen that in the next one to two months, the market will experience repeated shocks, and the big band is expected to open after that.
At the short-term level, as early as Tuesday, we pointed out that the direction will be revealed in the second half of the week, tending to rebound, and there is a high probability to complete the upward section of the 4-hour level two buy. At present, Bitcoin has broken through strongly. We need to pay close attention to the key support positions around 62500 and 2680. If it does not break after a pullback, we can continue to look at around 70000 and 3070; if it breaks, we can go short and see around 59000 and 2400.
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