Bitcoin is more than 25700, Ethereum is more than 1620

At the closely watched Jackson Hole meeting last week, Federal Reserve Chairman Jerome Powell expressed his views on interest rates in different ways. He pointed to higher-than-neutral real interest rates and stressed that the Fed would be cautious about deciding whether to raise rates further. They will maintain a restrictive monetary policy stance until inflation sustains a slowdown. They are also prepared to raise rates further if the conditions are right.
 
Powell said: "Based on the progress we have made so far, we will act cautiously at the upcoming meeting to assess the incoming data and the changing outlook and risks." This statement is consistent with Powell's words and deeds throughout 2023 Consistently, he is particularly focused on his mandate to restore price stability and, if needed, the possibility of further tightening to bring inflation back to the 2 percent target.
 
The interest rate swap market remained steady after Powell's speech, with traders pricing in about a 20% chance of a 25 basis point hike in September, while a 25 basis point hike in November is still priced in at 60% . In addition, according to Fed interest rate swaps, the Fed will cut interest rates by 25 basis points for the first time in July next year.
 
Technical aspect:
The current price of Bitcoin is around 25,900, which has fallen below the middle track of the monthly line. In the weekly level, the currency price has rebounded due to the support of the bottom track of the Bollinger Bands. The lower support in the sky chart is around 25,700. Around 23700 below, the RSI 9 daily moving average rebounded after being in the oversold zone. I personally think that there will be a wave of rebound in the current trend. You can consider entering the market around 25700 and look at 26500. Ethereum is almost the same, you can consider participating in multiple orders around 1620, and look at 1700, the above is a personal opinion and does not make any investment entry suggestions.
Contributor: Biquanzuoya