Market overview:
As mentioned in the previous report, although this drop effectively fell below the previous high, it still maintained an upward trend since March. It is currently fluctuating below the previous high and may continue to adjust. Since the last report, at 2 o'clock in the morning yesterday, the Federal Reserve announced that the target range of the federal funds rate will remain unchanged at 0-0.25%, which is in line with market expectations. The three major U.S. stock indexes collectively closed up, the Dow and the S&P 500 continued to hit record highs, and Bitcoin also rose to reach its previous highs.
BTC/USDT review analysis
Following the previous report, follow-up attention will be paid to the maintenance of the upward trend line. If it falls below, there may be a further decline. Otherwise, look at the forward high of 58352. As shown in the figure, since the last report, the Federal Reserve announced in the early hours of the morning that it will keep the target range of the federal funds rate unchanged at 0-0.25%, which is in line with market expectations and has also had a huge impact on the Bitcoin market. Bitcoin is supported by the upward trend line , and then rose again to break through the previous high, and is currently oscillating near the previous high. In the follow-up, we still pay attention to the maintenance of the upward trend line in the chart. If it falls below, the short-term upward trend may be declared over, otherwise it is expected to break through to a new high.
ETH/USDT review analysis
Following the previous report, follow-up attention will be paid to the maintenance of the upward trend line and the support of the 1725 line. As shown in the figure, since the last report, although Ethereum has fallen below the upward trend line in the short term, it has been supported at the 1725 line, and it has been recovered immediately on the second K line that fell below. Affected by the news, the decline was buffered along with the rise of U.S. stocks, gold and bitcoin. The current trend of Ethereum is weaker than that of Bitcoin, and we will still pay attention to the maintenance of the upward trend line and the 1725 support line.
DOT/USDT review analysis
Following the previous report, the trend of Polkadot has formed a rectangular shock range, and is restricted by the anti-pressure line. Follow-up attention will be paid to the breakthrough of the upper and lower edges of the rectangular range. As shown in the figure, since the last report, it has been suppressed by the anti-pressure line for the first time, and then it has been affected by the news that the Fed has kept interest rates unchanged. Shooting star, a bearish sign. In the follow-up, we still pay attention to the breakthrough of the upper and lower edges of the rectangular range, and at the same time pay attention to the suppression of the yellow solid line, that is, the supply line. If the supply line is broken, it is possible to break through the previous high. Otherwise, focus on the support of the lower edge of the rectangle.
This article is for reference only and does not constitute any investment advice
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