After the Federal Reserve's interest rate cut, the market has not improved. The support at the 90,000 level for Bitcoin has still not held. The support mentioned last week is around 86,800, and the current low has reached around 87,500. The intraday resistance is around 89,300, and the probability of a rebound remains high for a correction.
Ethereum is showing a similar trend, currently hovering around the resistance at 3,080. In this market sentiment, the momentum for a rebound is very weak. Those wealthy individuals around are choosing to wait and see for the right opportunity, and it is during such times that the principle of making money being easy but keeping it is highlighted.
A new week has begun, and it will also be an extraordinary week. The impact of CPI data and the readjustment of interest rates from other banks will come into play. If interest rates are raised, it will take away some of the already scarce liquidity in the market. This week, the market will face challenges.
After the halving release of TAO yesterday, it did not create a good market trend, nor was there any speculative investment. It passed an important day for it quite blandly. Given the overall pessimistic condition of the market, it is recommended to reduce some positions and maintain a base position only.
