9.16 Market Update Discussion: Has the consolidation range already broken down?
First, let’s look at the recent macroeconomic headlines. The Federal Reserve is scheduled to release its latest interest rate decision in the early hours of the 17th. Since the market is pricing in a 25bp rate hike, risk assets overall are currently showing a broadly downward trend. Soon after, Japan will also release its interest rate data on the 18th, and market expectations similarly point to a 25bp hike.
Turning back to the specific price action, when observing BTC’s daily K-line, it can be seen that its price has already slightly broken below the prior consolidation range. Even so, the extent of this breakdown is not large. More importantly, key assets such as ETH and MSTR have not yet shown any breakdown. Therefore, based solely on the current走势, we cannot reach a final conclusion yet. Going forward, the market will still need more time to further confirm whether this is a valid breakdown.
First, let’s look at the recent macroeconomic headlines. The Federal Reserve is scheduled to release its latest interest rate decision in the early hours of the 17th. Since the market is pricing in a 25bp rate hike, risk assets overall are currently showing a broadly downward trend. Soon after, Japan will also release its interest rate data on the 18th, and market expectations similarly point to a 25bp hike.
Turning back to the specific price action, when observing BTC’s daily K-line, it can be seen that its price has already slightly broken below the prior consolidation range. Even so, the extent of this breakdown is not large. More importantly, key assets such as ETH and MSTR have not yet shown any breakdown. Therefore, based solely on the current走势, we cannot reach a final conclusion yet. Going forward, the market will still need more time to further confirm whether this is a valid breakdown.
