YiboMarketAnalysis

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Overnight, the three major US stock indexes collectively rose, with the Dow rising 0.81% and a cumulative increase of 0.09% for the week; the Nasdaq rose 1.22% and a cumulative increase of 0.1% for the week; the S&P 500 index rose 0.9% and a cumulative increase of 0.22% for the week. Large-cap tech stocks generally rose, with Tesla rising over 3%, Amazon and Meta rising over 2%, NVIDIA rising over 1%, and Apple and Google rising less than 1%. The encryption market rebounded across the board, with BTC breaking through $62,500 and ETH reporting a breakthrough of $2,420. Altcoins rebounded in tandem, with CVC leading the way with a rise of 40%. Artificial intelligence (AI), SUI, a small amount of modularization, and some memes also rebounded.




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BTC has dropped from around 66500 to a low of 59828 due to the impact of the tense geopolitical situation in the Middle East. Last night, it staged a battle to defend the 60000 level, repeatedly breaking below the $60000 mark and then recovering within four hours. The long and short positions were fiercely contested. It was not until after midnight that there was a significant increase, with prices briefly breaking through $62500 and the current market showing a short-term long trend. The BTC price has surpassed the middle track of the Bollinger Bands and is approaching the upper track, indicating that the market is entering a pump phase. However, attention should be paid to the pressure from the upper track of the Bollinger Bands. If the price continues to fail to break through, there is a risk of falling back to the middle or lower track. At the same time, the gradual convergence of the Bollinger Bands indicates a drop in market volatility, and it may enter a Sideways state in the short term, possibly leading into the weekend. For trading, it is recommended to enter long positions at a slight retracement level of 6W-60500, and follow the increase in long positions above the 62500 breaking point, and further follow the 63200-63500 range.



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The Ethereum-linked market has rebounded, reaching a high of 2439 before starting to retreat. It is currently running at the 2415 level, and the short-term structural channel is expected to open upwards. The bottom support has risen to the 2350 range, so the main operation is to focus on buying the dip!

Tonight at 20:30, the financial market will welcome a data feast, and the non-farm payroll data will be revealed! The number of new job positions is the focus, serving as a barometer of market sentiment. What is the forecast for this number? Will it ignite the market's enthusiasm, or will it spark concerns?


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The non-farm payrolls data is crucial to the financial market investors. If the new jobs exceed 200,000, the market is expected to see a small pump, and some predict that the Fed will pause its rate cuts in November. The range of 160,000 to 200,000 is considered the best scenario, neither affecting inflation control nor changing rate cut expectations. The market is expected to continue to surge. However, if it falls between 140,000 and 160,000, it may drive the market to pump, but the shadow of recession will quietly emerge.



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The most worrying thing is that once the data falls below 140,000, the market may directly plummet, and concerns about recession will intensify, causing investors to become anxious. The non-farm payroll data is not only a reflection of the numbers, but also an indicator of market sentiment. Are you ready to face this financial storm?



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Come to Gate.io Live Channel and share your predictions and opinions! Let's witness every fluctuation in the market together and seize investment opportunities.

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In the international context, the situation is severe, and the U.S. stock market has fallen again after the opening, which will inevitably have an impact on the encryption market. Overnight, the three major U.S. stock indexes collectively closed down, with the Dow falling 0.44%, the Nasdaq falling 0.04%, the S&P 500 falling 0.17%, and the big tech stocks risingfalling, Nvidia rising more than 3%, Metarise more than 1%, and Tesla falling more than 3%. The volatility of the encryption market increased, BTC once fell above $60,000, ETH fell to around $2,300, fall 0.3%, and the top of the fall list is the currency that will be delisted. The initial claims data released by United States yesterday remained low, and the non-farm and unemployment data released at 20:30 this evening were vigilant that the "general strike" evolved into a "black swan"!



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BTC's price remained in a fluctuating state within the range we set yesterday. In the morning, the price rebounded to near 61500 but encountered resistance, leading to downward pressure. In the afternoon, it even touched a low point of 60100. In the evening, the price rebounded again to near 61000, then fell back, finally stabilizing and rebounding near 59800. Looking at the 4-hour chart, the market formed a Long Wick Candle downward, and the trend line kept shifting downward. As the trend line continues to decline, the low points will become lower and lower, and breaking through 60000 is only a matter of time. The MACD is opening downward, but there has been no crossover, indicating that it is not strongly downward at the moment. Also, the frequent conversion of the MACD histogram between red and green indicates the market's hesitation and Fluctuation in market sentiment. It is expected that the short trend will continue on Friday. It is recommended to lay out the position according to the high and short.


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With the continuous outflow of ETH spot ETF and the further deterioration of the situation in the Middle East, the panic in the crypto market continues to spread. The market turmoil has led to massive liquidation. Currently, there is still no obvious sign of a reversal in the daily candlestick, which has been in a 6-day consecutive decline. The overall trend is weak and the decline is greater than that of BTC. The trend follows the resistance level of 2520. In the short term, the support at the round number of 2300 can be used for conventional long positions, and it is a good opportunity to get on board. The initial target is to look at the level of 2380-2420. After the breakthrough, the decision on whether to hold should be made. Generally, after polarization, the market will enter a sideways cycle until the polarization ends. The distance from the lower support of the Bollinger Band to the lower band is close, less than 100 points, which needs to be followed. KDJ has entered the Oversold zone, although it has not reached the extreme Oversold, the possibility of an impact on the previous high cannot be ruled out!

In October, after a fall, the Bull Market entered the second half with a rise. Keep a good mindset, frens who were trapped!! After a long rise, everyone feels that there will be a fall. Perhaps this is the best reason for a pullback, and long positions have been completely washed out. There is no market that rises blindly, nor a market that falls continuously. It is normal to have pullbacks after a long rise. If you are optimistic about the future market, the fall is your opportunity to enter a position. If you are not optimistic, no matter how much you say now, it is useless. Iran once again launched missiles at Israel, and the market responded with a fall. According to the principle of history always being surprisingly similar, I think this fall is the last fall leading to the peak of the Bull Market. Dare to catch the bottom, friends. The push of interest rate cuts, the U.S. election, bring more possibilities to the market, full of expectations, there is no reason not to rise.

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Overnight, the three major US stock indexes rose slightly, with the Dow rising 0.09%, the Nasdaq rising 0.08%, and the S&P 500 rising 0.01%. Large tech stocks rose and fell differently, with NVIDIA rising more than 1% and Tesla falling more than 3%. The crypto market continued to fluctuate downward, with BTC holding the key level of $60,000, ETH shorts breaking the support level again and falling to around 2350, and AltCoins also experiencing varying degrees of retracement. The operational layout of some Spot positions for certain currencies will be updated simultaneously.



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The beginning of October saw a significant pullback, which has sparked panic once again. Various rumors have surfaced, such as capital flowing into A-shares and escalating conflicts in the Middle East, leading to the fall, and concerns about a potential big dump in the future. There are all kinds of reasons for the fall, and all sorts of justifications can be concocted. I can only say: Market makers go to great lengths to get retail investors to get out of positions, making them too afraid to enter the market. The monthly chart for September has closed, and the market trend is already very clear. No matter how the market falls at the beginning of October, it will not affect the final trend for October. At this time, the shorter the timeframe you focus on, the easier it is to be deceived by the market maker. The shorter the timeframe, such as the daily candlestick, 4 hours, 1 hour, 15 minutes, the easier it is for the market maker to manipulate. But the one thing the market maker cannot control is the trend. The weekly and monthly charts determine the big picture, which the market maker cannot influence. Therefore, many people are currently looking at the daily candlestick and 4-hour charts, believing that there will be a big dump. In such times, it's often falling into the bear trap set by the market maker. The change in the short-term market trend is just a momentary thing, so don't be fooled by the 7-8 point fall yesterday or the ten-plus point fall in recent days. Once the bear trap is completed, there will be a big bullish candlestick one night while everyone is asleep. However, if you miss out and are not on board, you will hesitate to get on board and will only continue to wait and watch the price pump.





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From the current market data, although the BTC price has rebounded several times, it has failed to attract continuous support from long positions. Especially in the evening, the unexpected strength of the September non-farm data briefly pushed the price to a high of 62,400, but it was immediately met with strong upward resistance and quickly fell by nearly 2,000 points, showing that the road for longs to break through is full of obstacles and the upper resistance is still strong. On the 4-hour chart, the price hit the bottom line of 60,000 and rebounded, but it did not continue. This is also within the normal range of rebound. In the short term, it will further decline to test the support level of 5.92. On the contrary, if the rebound breaks through and stabilizes above the range of 6.2-6.25, the short term will maintain a high-level oscillation and test the resistance level of 6.35. In terms of short-term operations, treat it as a range first, and follow the trend based on the breakthrough of this oscillation range.



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ETH has been directly plummeting due to the dumping actions of many ETF issuers, testing a low of 2350, with the potential to break through. On Monday, BlackRock had a large amount of buying, but now it has become zero. Fidelity also reduced its holdings by 9,975 ETH, which is the first time such a large-scale dumping has occurred since the launch of the ETH spot ETF, except for ETHE. The reason for the dumping may be due to portfolio adjustment. In addition to Fidelity, Grayscale continues to dump 4,670 ETH, which is similar to Monday's data. Bitwise also dumped 359 ETH. Apart from these three institutions, there are no other institutions dumping, but there are no net inflows either. Last week was a thriving buying market, but it changed on Monday. In the short term, follow the support at the 2280-2150 range. From the current market structure, there is a high possibility of Market Makers adjusting their average price through portfolio adjustment. Combined with the potential for market volatility and recovery this week, it is advisable to lie in ambush and enter the market in advance. Short-term trading should focus on resistance at around 2420 for taking short positions!

Last night's sudden attack by Iran on Israel caused market turmoil, with BTCMarket Cap instantly evaporating by 5%, the Nasdaq index falling by 2%, and oil prices soaring by a significant 10%. The escalating situation between Lebanon and Israel directly impacted the crypto market, with BTC barely holding the $60,000 integer mark, and Trading Volume expanding compared to the same time yesterday. BTC and Ethereum experienced significant fluctuations, leading to widespread liquidation in the futures market, primarily in long orders. According to on-chain monitoring data, a total of $1.242 billion was liquidated across the network in the past 24 hours, with $936 million coming from long orders and $316 million from short orders. The escalating tension between Lebanon and Israel recalls the previous missile exchanges between Hamas and Israel, which also caused significant turbulence in the crypto market. This once again confirms the powerful impact of news and uncertainty on the crypto market, leaving the so-called experts in moving averages and Candlestick theory wide-eyed once more.



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But while the war may be protracted, it's important to understand that this kind of panic Unfavourable Information won't last, as the market fell sharply in the early days of the Russia-Ukraine conflict, but its impact on cryptocurrency and the stock market has waned over time. In the same vein, the current panic will also subside, and BTC is expected to regain pump momentum. We witnessed this process in April this year in the Palestinian-Israeli conflict. However, in investment, it is necessary to guard against such unexpected Unfavourable Information events, avoid using full leverage, and appropriately use Spot or small Position operations with low magnification and high magnification to retain a certain amount of operating space. After all, 365 days a year, it is inevitable that there will be several accidents. Wait until a week later, when the "U.S. stocks" rebound, will you be able to maintain your position?

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Iran launched missiles at Israel, causing a sudden tension in the Middle East. The three major US stock indexes fell overnight, with the Dow falling by 0.41%, the Nasdaq falling by 1.53%, and the S&P 500 falling by 0.93%. Popular tech stocks generally declined, with Nvidia and Intel falling by over 3%. The crypto market fell across the board, with BTC testing the 60000 support level, and ETH falling below $2500. There was a widespread liquidation in the futures market, with major long positions being liquidated, and altcoins experiencing varying degrees of decline. The escalation of geopolitical tensions, coupled with Fed Chair Powell's remarks, led the market to believe that the Fed is not in a hurry to cut interest rates quickly - a situation that feels like a huge pressure. From the market's reaction, the trends of the US dollar, gold, and US treasuries are closely related to Powell's speech, which seems to be hinting at this Friday's non-farm payroll data.



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BTCdaily candlestick ended in a continuous decline, and after the opening of the day, it continued to show a weak and oscillating downward trend. Currently, the price has broken through the 61000 level and is continuously decreasing. Looking at the short-term hourly chart, the trend has been consistently bearish, the Bollinger Bands are opening up, and the price continues to move lower along the lower band. Currently, short positions are quite strong. If it cannot break through the pressure of the 15-day moving average above 63200 in the short term, the downward trend is expected to continue. The key focus later on is the support area near 6W-60500 in the daily candlestick. Once broken, there will be a significant downside space, testing 59200-57500-55000. Pay attention to the breakthrough or stabilization of this range. If a breakthrough occurs, continue to maintain a ReboundShort strategy; otherwise, if stabilization occurs, follow the consolidation range of 63000-61000. Currently, the trend is weak, and it is prudent to maintain a ReboundShort strategy.




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Ethereum is linked to the overall market trend, continuing the downward trend. The daily candlestick chart continues to show bearish signs, breaking through the strong support at 2520 overnight and testing the 2411 support level before a slight rebound. Currently, it is running around the 2450 level. In the short term, short positions are rapidly declining, and the market sentiment is weak. The rebound is not strong, and attention should be paid to the price's small support at 2420. If it breaks, there will be further testing of the demand at the 2350-2280 support level. Currently, the midline and lower line supports have been successively broken. In the future, we will first look for counter-trend short opportunities, and then consider going long again after the price stabilizes and seeks support.

The market is trending, follow the red envelope during the holidays

Will copying homework work?

The overall pump of the bull is not straight up, just as the overall decline of the bear is not straight down, both are tortuous, Fluctuation. There will be a pullback during the pump, and a Rebound during the decline, these are all understood by everyone. There will be a temporary retreat in the short term, which is also a very normal market behavior, so-called what goes up must come down, because the market has priced in a lot of expectations for the Fed interest rate cuts, and the market trend has risen after the release of Favourable Information, but has not broken through the key suppression. Another reason is that the market funds have not been fully released, so there has been the current wave of decline in the market.


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The non-farm payroll data next Friday will be the highlight moment of this week's market. After experiencing a strong cycle performance last month, the market data is currently taking a pullback and resting for a short term. Therefore, we need to closely follow the development of the Middle East situation recently. At the same time, the momentum indicator is slightly less optimistic. The relative strength index is maintained above the midpoint, but it is clearly gradually decreasing. Similarly, the average directional movement index (ADX) is hovering above the midpoint and has not shown a strong willingness to pump, indicating that the bullish trend of the coin price has weakened slightly recently. It is expected that the market will continue to fluctuate before the non-farm payroll, and continue to operate below 65,000. Then, shorts will continue to explore further and open up more downward space.

In this golden October, we usher in the great motherland's birthday - the National Day. On this festive day, Mr. Coin sends the most sincere blessings to everyone. May the motherland be prosperous and flourishing, like the bright stars lighting our way forward. Also, may we, in the crypto world, continue to rise like the motherland, and harvest abundant wealth and achievements. Today officially begins the holiday mode, and the market trading hours are not affected. It's also the super non-farm data week. If you plan to go out for a trip, try not to leave open orders and Maker as much as possible. If you have free time to continue participating during the holiday, you can follow Yibo's real-time updates. As we all know, our short holiday is when big events happen outside. In the second half of the year, there is a golden week to follow, and a Spring Festival week. These two times are prone to unexpected market volatility, once it occurs, the price fluctuation will be very obvious.



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Overnight, the three major US stock indexes collectively rose, with the Dow Jones up 0.04%, the Nasdaq up 0.38%, and the S&P 500 up 0.42%. Most popular tech stocks rose, with Apple up more than 2% and Google up more than 1%. There has been a squeeze on long positions in the global futures market, which echoes the cautious sentiment in the global stock market. Investors are responding to the potential risk sentiment change brought about by the possible interest rate hike by the Japanese Central Bank, leading to a drop of over 3% in the price of BTC in the past 24 hours. The current downturn in the encryption market is narrowing, and the trend is stabilizing. Attention is focused on testing for strong support during trading and the stable layout of market sentiment!



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Yesterday, BTC fluctuated downward and currently reached near the 63000 support level. The short-term market remains weak and the intraday drop was nearly 3000 points. The hourly chart price is running in the lower Bollinger Band area and there is no Rebound signal in the short term. The current trend is still relatively weak. The news is mixed, and the short-term pattern is unclear, leading to recent market fluctuations. As time goes by, the resistance above is still moving down. If the short-term cannot break through the 64200-64500 line, there is still a possibility of price retracement to the support level. From the recent trend, the short-term trend is complicated, mainly due to the profit-taking of the previous wave of capital and the interweaving of Unfavourable Information and Favourable Information in the external market. There are also significant differences in opinions within the crypto world in the short term. It is recommended to control risks for recent get on board operations and guard against losses caused by market reversal.



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On the technical side of Ethereum, it references BTC, and also follows the key support at 2550. In the short term, the train of thought is consistent with BTC. The upper key resistance platform to follow is 2650-2680. Short-term long positions are weak and need adjusting periods; moreover, there are varying degrees of narrowing signals on the four-hour and small timeframe levels, indicating the need for short-term adjustments.

On Monday, ETH and BTC showed a oscillating and falling trend during trading hours, and currently the Rebound strength is small and unable to push to new highs. It is necessary to pay attention to the short-term pullback being transformed into a downward adjustment at the daily candlestick level. The pullback space of ETH and BTC over the weekend is relatively small and has not formed an obvious reversal structure. However, from the trend of some other AltCoins, there is a trend of gradually turning back. Currently, it is advisable to wait and see. It is also relatively easy to form a turning point on the weekly chart at the beginning of the week. Yesterday afternoon completed the Rebound from the beginning of Friday 5 on the weekly chart. Once the low point of yesterday is broken, the oscillating pullback will continue. Data this week will be concentrated on Friday, and follow up on Mr. Bao's speech tonight!

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Time flies and it's already the end of September and the third quarter. The curtain of October is about to rise, and the footsteps of the year-end are gradually becoming clear. Regardless of whether past operations were good or bad, they belong to history and there is no need to dwell on them. What's important now is to seize the present. From the situation of the overall market, the coin price is currently in the stage of high-level Fluctuation. The interest rate cut in September, after two weeks of fermentation, has boosted market confidence, and this change will also have a profound impact on the global market. The market Fluctuation in October is bound to be turbulent, there is no doubt about this. Whether it's robbing Peter to pay Paul or friends who are not satisfied with their own operations, it's time to take a chance and lay the groundwork for the year-end. In this moment full of opportunities, standing in the right position, even ordinary people have the potential to soar with the wind. Yibo is very much looking forward to the market in October, follow Yibo and let's ride the wind and waves together!



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The weekend's trend has been oscillating as expected, hovering around the 65000-66000 level with little space and change. From the current market data, the monthly chart shows an oscillating trend with no obvious signs of decline, but with lower shadows and strong support below. The weekly chart continues to oscillate, with the price maintaining an upward channel. At the beginning of the week, a Bullish line was formed, despite a pullback midway, the overall trend still leans towards an upward movement. The BTC price has once again confirmed the resistance and support levels in the right shoulder area. Combining with the weekly chart, the current price is still at a high level after consolidation, and the strong closing on the weekly chart weakened the possibility of forming a head and shoulders pattern. Recently, the price has fluctuated within the range of 65000 to 66000, showing an overall oscillating upward trend. Subsequently, there may be another test of the neck line support; but if the price breaks through these resistance levels, it may trigger a stronger upward trend, breaking the current pattern. The daily candlestick has touched and broken the 65700 level multiple times, but has not been able to hold steady. Currently, the market sentiment is stable, and we continue to favor the strength of long positions. The intraday market shows a staggered oscillating upward trend. The monthly chart is about to close, and the trend still continues to favor long positions. Due to the impact of the Fed's interest rate cut, the global interest rate cut storm is approaching, and the strong period of the stock market has arrived. It is highly probable that it will break through the 66800 level and reach the vicinity of 67000-68000, with a high possibility of reaching 70000! Today's operation strategy is still to continue with the low long positions in the event of a pullback!



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After testing the 2726 level, ETH entered a weekend oscillation mode, with a slight rebound after testing the 2635 level in the intraday low. However, the price range in the intraday was relatively small, and both long and short positions did not have much room for extension. In the intraday, it continues to follow the strong pressure at the 2680-2720 level, and breaking through this level will lead to a subsequent move towards the 2750-2820 level. Currently, BTC still has a clear long positions pump structure, and the trend of ETH will also follow suit. The obvious signal for the intraday catch-up has not yet emerged, relying on the price structure support to move forward!

In the crypto world, the news can be intuitively reflected through the volume and price relationship of technical aspects. From a macro perspective, financial policies, political confrontations, major livelihood issues all influence the overall market trend. From a micro perspective, a large financing, reduction in production, major improvements or updates, one coin driving other coins on the same on-chain, or endorsement by a celebrity, the volume and price of a coin immediately rise. Conversely, if it is negative news, it keeps falling.


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So the news can be considered from several aspects. The more information you grasp, the more accurate your judgment on the future market will be. Or, you can guide the future market through the intuitive relationship between volume and price, which is also a highly operable method. The weekend's intraday continued to summarize the oscillation of the small structure, following the closing and subsequent volume to determine whether long positions will extend or bottom out or accumulate in early October intraday. Short-term operations should be adjusted based on real-time dynamics. The expectation of a Bull Market in the long term must be brewing, so hold your coins and wait!

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The Federal Reserve has suddenly transmitted a major message! The easing may be more fierce than expected, and funds will accelerate into the encryption market. The latest statement from Federal Reserve officials releases a major signal. The current US inflation rate continues to cool, approaching the Fed's 2% target level. As a result, traders are betting that the Fed is likely to make a second substantial 50 basis point rate cut in November. The current Intrerest Rate futures contract reflects a 54% chance of a 50 basis point rate cut in November. The continuous depreciation of the US dollar, the continuous rise of Bitcoin combined with the continuous expansion of Trading Volume, and the continuous net inflow of ETFs, significant entry of whale institutions, and incremental funds entering successively, also do not rule out the possibility of Bitcoin hitting a new historical high in the last quarter of 2024.



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The current market of Bitcoin is basically stable, and there is no significant fluctuation during the weekend. Although there are signs of slight upward movement this morning, it encountered resistance after reaching near 66200 points and fell back to the 65300 area, showing a slight lack of short-term bullish momentum. In the current technical analysis, 65000 points have become an important support level, and the market performance is stable, with little possibility of further downside. Due to the reduction in volume over the weekend, it is recommended for investors to be patient and wait for the market dynamics on Monday. Today's operational strategy tends to be cautious and optimistic, suggesting to take advantage of the dip to go long, use the current low position to layout, in order to capture the possible uptrend next week. Please pay close attention to the market dynamics and flexibly adjust the strategy to respond to changes.

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After reaching a high near 2728, Ethereum longs saw a continuous decrease in volume. The upward momentum only tested the strong resistance level above without substantial breakthrough. The overnight rebounded near 2640, and from the Bollinger Bands technical perspective, the upper, middle, and lower bands are all turning upwards. Currently, the market is running near the upper band, with the resistance near 2750. Once the technical level is broken, it may rush towards 2800. The moving average is still in favor of the bulls. Amidst such intense bullish growth, the RSI and KDJ values remain normal, and the MACD has been rising steadily after the crossover. These three indicators all point to a bullish trend. In terms of the daily chart, the general direction is basically confident for long-term targets, which can be helpful for spot users. Holding on can lead to victory.

In 2024, Airdrop has become a double-edged sword for encryption projects, and a chicken rib for the altcoin enthusiasts. Reviewing some of the Airdrop projects that have been launched up to now in 2024, it is found that a large part of the AltCoins are facing the problem:

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1. Prices are difficult to sustain. Most Airdrop Tokens collapse within 15 days, with only a few Tokens able to achieve a rise in price 90 days after Airdrop.



2. The more airdrops, the better the performance. Tokens with an airdrop volume of more than 10% of the total supply perform better in terms of community retention and price, while tokens with less than 5% airdrop volume usually undergo rapid dumping after listing. In summary, the key point lies in market participation.


3. The overvalued FDV has the most damaging effect on the project. High FDV suppresses rise and Liquidity, leading to a significant price drop after Airdrop.


4. Liquidity is critical. Without sufficient liquidity to support high FDV, many tokens collapse under dumping pressure. Depth liquidity is key to price stability after the airdrop.



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In the upcoming bull run process, the market will launch more coins, including recommendations from the pros. Follow our investment logic and layout based on the patterns I provided earlier! Seize the hot zone and hot Tokens, buy and sell quickly, take profit as soon as you make money! Even if you make a 20% profit each time, you can achieve financial freedom through compound interest! In this market environment, remember not to act impulsively, and timely take profit is crucial! This is the moment of dilemma. Although there is profit, it is not much. Market sentiment is gradually becoming FOMO, while also worrying about the profit pullback. Those who were trapped before can continue to hold, while those who recently bottomed out and made a profit of over 30-50% can consider reducing their position in advance, follow the market trend, and don't worry too much! At this stage, focus on the big picture and don't worry too much about making minor mistakes. As long as the overall direction continues to rise, we will definitely grasp the fourth wave of the bull market in the coin circle! There is no need to debate whether we are entering a major bull market in the current market, the more important thing is whether our coins can break out in the upcoming market. Otherwise, while others' coins are rising, ours are not moving, or even rising less. This situation is scarier than a market decline!

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The month-on-month growth rate of PCE data in August was lower than expected, which may push the Fed to continue to cut interest rates for the remaining time this year and next year. PCE data continues to cool down! The Fed's substantial rate cut bets still have a slight advantage. The overnight US stocks' three major indices closed with mixed performances, with the Dow rising 0.33%, the Nasdaq falling 0.39%, and the S&P 500 falling 0.13%. Popular tech stocks had mixed performances, with Tesla rising by more than 2%, Nvidia falling by more than 2%, and Amazon falling by more than 1%. The crypto market rebounded across the board, with BTC breaking through $66,500 and ETH breaking through $2,720 before experiencing slight fluctuations. The rapid rise of MEME yesterday has shown a trend of profit-taking.



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BTC broke through $66500, especially after falling to $52528.6 from September 7th to stabilizing at a rebound to break through $66000 at the moment, continuing to climb for 20 days. This also made those 'brick' experts who predicted a big fall in early September with an assertion that BTC would see $38000 to $32000 by the end of September, happy to see today's increase! Looking at the weekly candlestick structure, BTC's candlesticks pierced through three consecutive positive trends, with resistance near 70000 following upward. The breakthrough of 66000 has occurred, and 70000 may not be too far away. The 'bull is coming' may encounter resistance, may be delayed, but will definitely not be absent. Following the trend of the one-way market, not touching the high and not reaching the bottom. The balance is broken, and the original thinking should also change as the market is changeable.


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The Ethereum linkage market broke through the strong position in the early trading session after a slight retreat to the 2615 level, and then started to rise. The overnight high tested 2726. From a short-term perspective, the operating channel is expanding downward, and the price stabilizes after probing the bottom, with obvious signs of a rebound. The strength of shorts is gradually weakening, the moving average is turning from low to high, and the return to the long trend is more obvious. On the 4-hour chart, the price did not rise before falling back, currently testing the low-level support, the channel is narrowing, and the long and short forces alternate frequently, further reducing the amplitude of the oscillation. After oscillating and probing in the short term, the downward momentum weakens. In summary, the bullish view remains unchanged in the short term.

The data released in the evening showed that the overall PCE YoY growth rate slowed to 2.2%, lower than the expected 2.3%; the MoM growth rate slowed to 0.1%, unchanged. Other data shows that US consumer spending in August rose moderately, suggesting that the economy retained some strong momentum in the third quarter, while inflationary pressures continued to weaken. Consumer spending, which accounts for more than two-thirds of US economic activity, rose 0.2% last month, while the unadjusted increase in July was 0.5%, lower than the market's expected rise of 0.3%.


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"Hawk King" Kashkari of the Federal Reserve suddenly turned dovish, suggesting a significant interest rate cut if inflation continues to ease, bringing stronger market support! BTC price also rose again, currently approaching the descending trend line that has not been broken in half a year, and it is expected to face certain pressure in the range of $66,500 to $67,000. However, the volume of BTC has not continued to expand, indicating the possibility of consolidation at this key price level for a period of time. According to the principle of acute transformation, after the pressure is broken, it will convert into a support position. The $65,000 level may be transformed into a short-term support level, so the short-term operation is also very clear."



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On the ETH side, the rebound strength is still somewhat weak compared to previous performance. Nevertheless, there is still some correlation, so the overall trend should not deviate too much. Technical analysis can refer to BTC. For the time being, it's best to follow the previous high resistance and not blindly chase after breaking it. When considering going long, it's better to wait for a confirmation of a retracement support before entering the market. Based on the candlestick pattern, the strong short-term support is around 2550. As long as this support area is not broken, the bullish trend can be maintained; otherwise, caution is advised.