The market swings between leverage and opportunities, with every trader's decision affecting profit and loss. Last night's market was full of ups and downs — Bitcoin was pressured by downward momentum in the evening, dipping to a low of 85073, then stopping its decline and rebounding to 86521, before entering a range-bound consolidation. Ethereum's performance was nearly identical; after bottoming out at 2890 around midnight, it stabilized and recovered, warming up to around 2966 in the morning.
From a technical perspective, Bitcoin formed a large bearish candlestick on the four-hour chart, testing the lower Bollinger Band, with more than half of its previous gains being retreated. Although the short-term rebound showed some hesitation, the downward momentum has not truly dissipated, and the overall trend remains in a sideways downward correction phase. Moving to the hourly level, two consecutive bearish candles have broken through previous support levels, with the downward momentum continuing within the descending channel. All moving averages are diverging downward, indicating there may still be room for further downside. However, the key support near 86000 has temporarily held, providing an opportunity for a secondary rebound.
From a trading perspective, early in the session, consider a light position to test the bulls, but closely monitor the correction pace of the market. Whether subsequent rebounds can effectively break through resistance will directly influence the medium- and long-term trading strategy.
**Bitcoin**: Consider long positions around 86000, target 88000
**Ethereum**: Consider long positions around 2950, target 3100
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