[Boge Talks Trading] System Defines Direction, Open Positions and Set Stop Loss
December 10 ETH Afternoon Analysis
1. Market Logic
It is expected that the market will surge to resistance levels of 3470 and 3550 in the early hours of today, with the main logic as follows:
In the early hours, the Federal Reserve announced a 25 basis point rate cut and will announce a QE bond purchase plan of about 40 billion each month starting next month;
It is expected that the market will surge and then pull back around 3:10, and Powell's hawkish speech at 3:30 may lead to a downturn in the market;
Macroeconomic risk indicators: The U.S. 10-year Treasury yield rose to 4.182%, and the USD/JPY rose to 156.61 (close to the November high of 157.90). Both are negatively correlated with the cryptocurrency market trend, and we need to be cautious of macroeconomic weakening risks.
In addition, ETH began to rise significantly at 11 PM last night, and at 11:42 PM, a certain platform released a speech by 'shadow' chairman Hassett: releasing the news that 'the U.S. still has considerable room for interest rate cuts', pushing the price up to 3396. There were about 42 minutes of abnormal fluctuations during this period, and the efficiency of market information transmission is worth noting or there may be behavior related to insider trading; the world is indeed a makeshift stage.
