After the FOMC meeting, the federal funds rate was cut by 25 basis points from 4% to 3.75%.
The latest Federal Reserve dot plot predicts one rate cut each in 2026, 2027, and 2028. The final expectation is to maintain the interest rate stable at 3.1%.
After a night of back-and-forth battles between bulls and bears, the US stock market/gold/crypto sector faced intense news-driven competition.
After announcing the interest rate cut, the US stock market rebounded massively, with Bitcoin following suit and frequently spiking at smaller levels, until the subsequent speech by Old Powell, which hinted at a reduction in the pace of interest rate cuts and a high probability of pausing rate cuts in January next year. Subsequently, the market experienced another round of decline before the close of the US stock market, as bulls chose to close positions in the absence of new rate cut expectations for the future, leaving the market to decide the next steps.
Back to the market, after the second surge and backtest of 94,000, it quickly encountered bearish pressure, with small-level volume drops; fortunately, the drop was not exaggerated. It reached 90,000 and temporarily stopped falling, but the intraday rebound is very weak, so be cautious in entering long positions.
Since it has once again broken below the small-scale consolidation structure at the high position, if the small-level adjustment breaks below 915, it is highly likely to start a new round of downward adjustment.
In the evening, pay attention to the price performance around the rebound near 92,000; if under pressure and retreats, one can try to position for a short.
If it directly chooses to break below the 90,000 range, there is still room to go down, with the lower 86,000 range waiting for bulls.
Upper resistance: 91900/94000/95400
Lower support: 89500/88000/86000
Following the big coin to surge, after testing the narrow consolidation area at a high position upwards, it welcomed a rapid drop.
In the end, a double K-line reversal pattern was left at a high position, and it continues to fall with increased volume.
There has been almost no bullish rebound during the day, which can only indicate that the short-term bulls want to enter at a lower position.
In the evening, pay attention to whether the rebound back to around 3300 can break through and stabilize; failure to test will lead to a downward adjustment.
If it follows the market and breaks down with increased volume below 3080, the bearish space opens up, and the entire 4-hour level rebound is announced to be over.
Upper resistance:3300/3386/3440/
Lower support:3080/2980/2840
Before the interest rate meeting night, it had already begun to show a downward trend; after another weak rebound, a small level adjustment continues.
In the evening, pay attention to the price performance around 128; for the long positions, be quick to take profits, especially during the weak rebound phase during the day.
If it is broken with increased volume, the lower 120 range waits for bulls.
Upper resistance:134/137/144.3/
Lower support:128/120.1/113
