Preface: Investment carries risks and caution should be exercised everywhere. This content is not intended as a recommendation and is for reference only
Preface: Investment carries risks and caution should be exercised everywhere. This content is not intended as a recommendation and is for reference only.
News flash:
1. The Federal Reserve has once again suspended interest rate hikes, and the Nasdaq has risen by over 210 points!
The Federal Reserve has once again suspended interest rate hikes, and the Nasdaq has risen by over 210 points! Powell spoke out: 'No confidence' in judging whether the Federal Reserve's interest rate policy is sufficient to reduce inflation
On Wednesday (November 1st local time), the Federal Reserve announced its latest interest rate resolution, announcing that the benchmark interest rate would remain unchanged and the target range of the federal funds rate would continue to be maintained between 5.25% and 5.50%. This is also the second consecutive suspension of interest rate hikes by the Federal Reserve since the start of the current rate hike cycle in March last year.
Powell stated that he "currently lacks confidence" to assess whether the Federal Reserve's interest rate policy is sufficient to reduce inflation, and the Federal Reserve will continue to monitor more economic data to measure whether the recent decline in inflation in the United States is sustainable. If economic data points to the necessity of raising interest rates, the Federal Reserve will consider further rate hikes.
BTC Market Analysis:
The latest interest rate resolution was announced in the early morning, announcing that the benchmark interest rate would remain unchanged. This is also the second consecutive pause in interest rate hikes by the Federal Reserve since the start of this cycle in March last year, which is very good for us. From the current situation, it is still in an upward trend, with the low point constantly rising. In the early morning, under the influence of the news, the currency price continued to rise, directly reaching around 35730, ushering in a recent new high. The market trend has broken the previously mentioned 35200-33400 fluctuation range. The previous few days of volatility have been a few days, and the bulls have already accumulated their strength. Therefore, we will continue to maintain a much lower mentality in the future.
From the above 4 hours, it can be seen that the market is still operating in the mid to upper track range in the white market. In the evening, the bulls began to exert their strength, although there was a slight pullback, it did not affect the wave of uplift caused by the news in the early morning. At present, the Bolin Belt is showing an upward trend of opening, and the K line is running above the upper track; The KDJ three lines form a golden fork and diverge upwards; The MACD double line forms a golden fork that diverges upwards, and the multi head energy column runs in high volume. The overall market is still in an upward trend, and bulls are also continuously increasing their trading volume. Therefore, in the future, the market will continue to focus on pullbacks and take longer positions.
ETH Market Analysis:
From the perspective of Ethereum's market situation, it was a positive trend yesterday, and also in the early morning due to the influence of the news, there was a wave of upward movement. Although slightly weaker compared to Bitcoin, the overall entity has also broken through the previous high point, and the low point is constantly moving upwards. In one hour, the market was still in the third line of volatility in the white market. In the evening, bulls began to accumulate strength and pulled all the way up to 1860, where they retreated and consolidated. Currently, the market is also in a downward trend, and there may be another wave of upward trend after the subsequent market correction ends. Therefore, today's market is still dominated by a downward trend.
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