On a macro level, the FOMC will be held on Wednesday, and the market currently believes that the probability that the Fed will not raise interest rates this month is close to 100%. Therefore, the FOMC will have little impact on the market. However, our research has observed a rebound in U.S. gasoline and diesel prices due to the impact of previous OPEC production cuts. If gasoline and diesel prices continue to rise in the future, it cannot be ruled out that the Fed will raise interest rates again at the FOMC in November.
Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week.
As we said last week, ETH's bottom-buying sentiment was not as obvious as in mid-August, which is why ETH's rebound last week was weaker than BTC's. Now, ETH is within its original narrow range, and we maintain resistance level 1820 and support level 1500.
Switching to the 4h level, the situation of ETH is the same as that of BTC. In the green rectangle, the whale disappeared and the price continues to fluctuate. The whale may start to take profits and close the position in this phrase. In the red rectangle, when the long red candle appears, the participation of the whale increases, and the phenomenon of taking profit and closing the position is more clear. Unless the price of ETH rises in the subsequent movement and the number of whales increases, the current round of rise is likely to be over.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week.
As we said last week, ETH's bottom-buying sentiment was not as obvious as in mid-August, which is why ETH's rebound last week was weaker than BTC's. Now, ETH is within its original narrow range, and we maintain resistance level 1820 and support level 1500.
Switching to the 4h level, the situation of ETH is the same as that of BTC. In the green rectangle, the whale disappeared and the price continues to fluctuate. The whale may start to take profits and close the position in this phrase. In the red rectangle, when the long red candle appears, the participation of the whale increases, and the phenomenon of taking profit and closing the position is more clear. Unless the price of ETH rises in the subsequent movement and the number of whales increases, the current round of rise is likely to be over.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
