I am Bai Yue. I just saw a shocking news item, U.S. Secretary of Commerce Howard Lutnick directly criticized Federal Reserve Chairman Powell, saying interest rates should be lower, and Powell is too slow and timid! He also made a bold prediction that if Trump returns to power, U.S. economic growth could reach 6%! What should players do? Bai Yue will explain it all to you!
First, let's look at the news:
On one side, the Secretary of Commerce is shouting that 'lowering interest rates and energy costs is the only way to save America,' while on the other side, the Federal Reserve is stubbornly holding onto high interest rates. Clearly, the internal divisions on economic policy among U.S. leaders are now out in the open!
What impact does this have on our crypto market? In simple terms, if the expectation of interest rate cuts really heats up in the future, there will be more money in the market, and part of it is likely to flow into assets like Bitcoin, which could be a potential long-term benefit. But note, this is just an 'expectation'; talk doesn't equal immediate action, and the market still needs to digest this.
Let's take another look at the technicals:
The current price of BTC is 92650 USD, and the 1-hour chart is interesting. The MACD double line is hovering above the 0 axis, indicating a golden cross, but the volume hasn't surged, and it is approaching an overbought state, suggesting that the bulls are making an effort, but the buying power is still somewhat hesitant. The pressure above is obvious: 94000 USD is the daily barrier, and 96000 USD is a tough threshold. What about below? The range of 92000-92500 is considered short-term support.
Bai Yue's view:
The news is quite noisy, but the market hasn't really moved yet. Technically, it's in an awkward position where it could go either way. In the short term, the market is showing weak fluctuations, with a possibility of a pullback to test support, but currently there is no basis for a significant drop. Overall, don't rush in just because of the news, and don't panic and cut losses due to fluctuations.
Trading advice:
For those with heavy positions, consider reducing some holdings near the 94000-94500 resistance area, and wait for a pullback to re-enter.
For those who want to catch up, don't chase the highs. If it stabilizes after a pullback to the 92000-92500 range, you can try small amounts in batches; place the stop loss below 91500.
Holding spot, pay attention to whether the closing can stabilize at 93000; if it cannot stabilize, it may continue to grind.
The market is stuck, with chaotic news; what should retail investors do? Remember one thing: listen to the news, but look at the charts for action. Don't be swayed by short-term noise; hold your key positions, and manage your trades to live well. Pay attention to Bai Yue, let's find opportunities amidst the volatility!
