The entire market is waiting for 2:00 AM (UTC+8) on Thursday, when the interest rate decision will be announced. A rate hike is a certainty, but how many times and in what way still holds some suspense. Then at 2:30 AM (UTC+8), the Federal Reserve Chair will give a speech, which has become the biggest uncertainty. The market has been consolidating in a range recently. As the saying goes, the wider the horizontal move, the stronger the vertical breakout, so everyone is waiting for these events to break the stalemate!
The recent strategy of buying on dips has been undoubtedly profitable, whether it was buying BTC above 77,000 or ETH on low positions at 2,500—both have brought returns. The current strategy remains unchanged. As long as BTC does not fall below 75,000, the bullish structure is intact, and buying on dips is the main strategy. Similarly, unless the price clearly stands above 80,000, the range won't break, and chasing momentum isn't advisable! Take quick longs on small pullbacks, and buy on deeper corrections for bigger profits!
On the BTC hourly chart, the price is pushing upward along the upper band, both KDJ and RSI have turned upwards, and the MACD shows a golden cross with bullish volume increasing. The 4-hour chart is showing the same pattern. After the upper band of the daily Bollinger indicator flattened, it now shows a slight opening upwards, indicating a strong bullish momentum, so focus on buying on dips during the night!
On the downside, continue to monitor support at 77,000–76,000, which is a good range to open initial long positions. For rebounds, watch resistance at 78,000–79,000–80,000.
For ETH, monitor support at 2,480 and 2,440; initial long positions should be managed around this area, and for rebounds, pay attention to resistance at 2,520, 2,580, and 2,660.
The market is never about chasing after the rebound! If you’re already holding long positions and can manage, reduce in batches. If you’re not holding longs, then you just have to wait patiently for a pullback to offer another entry opportunity. Make it clear: focus on buying on dips, not chasing highs! The market has offered many chances to get in, and I’ve reminded everyone repeatedly. The rest is up to each individual now!
