Powell's fiery speech causes the coin price to drop sharply, with cautious buying on good news from China and the US! 10.30 Bitcoin Auntie's Strategy

The Federal Reserve lowered the benchmark interest rate by 25 basis points as scheduled, marking the second consecutive rate cut, in line with market expectations. Two members voted against the decision, indicating increasing disagreement. During the subsequent press conference, Powell made unusually sharp remarks, refuting market expectations of a rate cut at the December meeting. As a result, the Dow Jones Industrial Average and S&P 500 indexes gave back gains, and the coin price also declined accordingly! Yesterday’s long positions only yielded a small profit; currently, Bitcoin is still trapped in a position!
The daily chart shows three consecutive bearish candles, with the coin price breaking below the 20-day moving average. The Bollinger Bands are starting to tighten, but the three lines of KDJ are crossing downward and diverging, while MACD’s volume continues to shrink. The daily indicators lean toward a bearish trend. Indeed, a 25 basis point rate cut cannot support a rebound in the coin price. Therefore, for intraday trading, Conan suggests mainly shorting on rebounds. However, with good news from China-US negotiations, the four-hour KDJ lines are also in oversold territory and turning upward, so a bearish outlook is not overly confident! Resistance levels above are 112,000, 113,600, 115,500, 116,300, and 117,200. Support levels below are 109,500, 109,000, 108,200, 107,400, and 106,600.
10.30 Long Position Strategy:
Bitcoin retraces to 109,500 - 110,000 for long entries. Conservative traders can enter at 108,500 - 109,000, with a stop near 108,000. Targets are around 111,000 - 111,500 - 112,000. If broken, look for 112,500 - 113,000 - 113,500, and continue adjusting stops to lock in profits as needed.
Ethereum retraces to 3860 - 3900 for long entries. Conservative traders can enter at 3800 - 3830, with a stop near 3760. Targets are around 3950 - 3980 - 4000. If broken, look for 4050 - 4080 - 4100, and continue adjusting stops to lock in profits as needed.
Short Position Strategy:
Short BTC at 113,500 - 114,000, with a stop near 114,800. Targets are around 112,000 - 111,500 - 111,000. If broken, look for 100,500 - 110,000, and continue adjusting stops to lock in profits as needed.
Short ETH at 4100 - 4140, with a stop near 4180. Targets are around 4080 - 4050. If broken, look for 4030 - 4000 - 3970, and continue adjusting stops to lock in profits as needed.
This wave of decline is mainly caused by Powell’s hawkish remarks. There is a possibility of bottoming out successfully. Rate cuts are generally positive, and with good news from China-US negotiations, everyone shouldn’t be overly bearish! #ETH链上活动