Monday has arrived as well, and this week's weekly candle has, as hoped, closed above 64,800. Two days ago, Laoshan also said that with only a few months left until Trump’s midterm elections, the Fed cannot raise rates now; at the very least, it will likely push rate hikes to after November, with December being the most probable time for a hike. Earlier, the market got excited about a September rate hike, but a nonfarm payroll print came out and effectively denied the September hike. In October and November, rates will most likely be kept unchanged. With the back-and-forth of the US-Iran conflict, the global economy has actually fallen into a deadlock cycle. Oil shipments can’t get through, and many oil-importing countries have no oil, which triggers a chain reaction—but in the end, the beneficiary is still the United States. After all, Venezuela’s oil has to be sold eventually, and it ultimately ends up in the U.S.’s pockets. Now, U.S. debt is already approaching 4 trillion. This year’s growth has been extremely fast. If they hike rates rashly, it will cause many problems. Right now, the Fed is basically keeping rates pinned and must maintain them unchanged.
Next, let’s take a look at the market. Big BTC’s high reached $65,482, but it didn’t fully break through the $65,500 resistance level. This zone is the watershed between bulls and bears. If price can hold above it, then it would likely test $68,000 again—the heavy resistance level. So for now, the key is whether BTC can fully hold above $65,000, then hold above $65,500, and finally break through $68,000. For the downside, currently you should briefly watch supports at $64,800 and $63,800. As for Ethereum, its high reached $1,937, and it still hasn’t broken through the $1,950 resistance. What matters now is whether ETH can firmly hold above $1,900. Once it does, then you can consider trying to push at the $1,950 and $1,980 resistance zones. On the downside, supports are $1,880, $1,850, and $1,800. Remember: if the first attempt to rally fails and can’t reach the upside, then it should pull back again, and only after that should it continue attempting to break the resistance level—then the breakout can happen. With no rate hike and rates kept unchanged, you can look for entries at support levels. Remember to always set a proper stop-loss and don’t touch altcoins. The long position I entered the day before yesterday is also in profit today. This article is time-sensitive—if you don’t understand, you can follow Laoshan and ask him more! $BTC #MichaelSaylor暗示增持BTC #BIP110软分叉尝试启动 #韩国拟放宽加密服务商大股东规则 #XRP守住1美元 #参议院拟9月表决CLARITY法案 $ETH
