This round of rate cuts by the Federal Reserve is considered "hawkish," and the market immediately turned pale when Powell spoke. The only consolation is that the balance sheet will expand starting on the 12th, with $40 billion allocated to buying short-term bonds and continuous monetary easing; however, the dot plot directly pours cold water on this, indicating that there may only be one rate cut next year, with January and March being highly unlikely. Furthermore, with Powell stepping down in May, any continuation of the bull market will have to wait until a new chairman takes office.
The most direct impact on the market is that it continues to fluctuate within a range, with contracts controlling the market and the direction entirely based on guesswork. Those aiming for 98,000 should reduce their positions, while those hoping for a second dip to 80,000 should wait to get on board. It's currently a typical range-bound market. If you're not interested in gambling, leave; if you want to sell at a higher price, wait a few more days.
The probability of the Bank of Japan raising interest rates on December 19th is not low, and the market could experience another sharp drop at any time. Don't expect too much from the Christmas market this year; liquidity will be even worse as foreigners are all celebrating the holidays.
Miao Jie continued to liquidate her RAY and BNB holdings, and also cut her PEPE by 50%, indicating that risk sentiment remains cold.
ETH dropped 5.5% yesterday, precisely hitting the market's prediction that "BTC will rebound to 94k and ETH to 3500 before the rebound ends." However, the end of a rebound doesn't necessarily mean the start of a bear market. I actually think this sell-off is more like a clearing out of expectations: the market is letting it fall as it pleases, and retail investors not understanding is exactly the effect the market manipulators want. The Fed started easing monetary policy today; do you think it could immediately turn bearish? Something unusual is definitely going on.
Don't panic about the technical aspects of ETH:
- The highs and lows are still moving upwards;
- On the 9th, a large volume surge broke through the previous high;
- The small doji candlestick following the green candle indicates strong upward pressure, as it was already near the trendline.
- This morning's bearish candlestick had a lower shadow, indicating support at the bottom;
- During an uptrend, bearish indicators are weakened, and bearish candlesticks have less reference value.
In summary: Don't panic during a second pullback; first, analyze the market situation carefully.
The opportunity will be gone in the blink of an eye, everyone gather quickly!
Don't let hesitation delay your chance to make money, and don't get burned by worthless cryptocurrencies. Join Sister Miao and let's ride this bull market together!
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