After the announcement of the interest rate cut, the market did not experience a significant drop as many expected, mainly due to the Federal Reserve's phased market liquidity support, which provided some support for the market. However, this influence is ultimately limited and has not changed the overall oscillation pattern.
In the past week, the market has clearly fluctuated within the range of 94600 to 89000, forming a clear box structure. Although the pressure and support effects are significant, the market rhythm has repeatedly played out within this range, but the market has not been able to form an effective breakthrough. Currently, the market still presents a situation of "horizontal instead of downward," and the direction is not clear.
Several bearish signals previously mentioned still exist. Approaching the end of December, especially around Christmas, the market is likely to welcome a substantial breakthrough. The key guidance may come from the Bank of Japan's interest rate decision, next week's non-farm data, and the direction of the U.S. stock market.
For Bitcoin, the current range of 94600 to 95200 can still be regarded as an important watershed for bulls, allowing the price to test but not to effectively break through. It is recommended to continue focusing on the right-side strategy and layout around the bearish direction. If the price re-enters the 91000 to 93000 area, it can still be seen as a good long-term entry opportunity, with a downward target of around 76000.
Regarding Ethereum, the previous rebound was merely a flash in the pan, and the recent trend has clearly weakened. Unless new structural market movements appear subsequently, it is unlikely to see any improvement before the end of the year. The current approach to Ethereum is relatively singular, mainly focusing on shorting at highs.
The market is like a double-edged sword, always teaching us many things in silence, such as greed or cowardice. After being immersed in the financial market for a long time, many people inevitably bear the marks of gains and losses. As an old saying goes, the world is not just about fighting and killing, but also about human feelings and world affairs.
If you still rely on feelings to buy up or down, do not leverage too much. For those who lack logical thinking about entry timing, you can pay attention to getting on board, and we will provide you with a different market analysis!
