Bitcoin October 1st market overview

Macro Summary: Fed Chairman Powell reiterated the 50 basis point rate cuts in November and December, but ruled out the possibility of rapid rate cuts. Economic indicators are robust, but the market is disappointed with the impact of rate cuts, increasing concerns of recession. Currently, there is no actual recession expectation.

Market dynamics: The overnight slight fluctuation of the US stock market, generally rise; the US dollar remains stable near 100 points for six weeks, showing signs of fatigue. Offshore renminbi rebounds after breaking 7, and the strength of A-shares may reflect a counterattack against the pressure from the US dollar.

Bitcoin Analysis:
- Trend: The daily rise trend shows a retracement signal, and we need to be cautious about continuing downward after breaking through.
- Technical indicators: MACD commonly shows short-term divergence and callback after crossing the zero axis; the 4-hour chart shows Bitcoin touching the bottom of the oscillation channel with a rebound pressure at 64300.
- Bollinger Bands and Moving Averages: The Bollinger Bands are widening downwards, with the candlestick close to the EMA120, and the space below needs to be observed. Short-term volatility is weak, pay attention to the crossover signals of the fast and slow lines. The daily Bollinger Bands are trending parallel, and it is expected to consolidate for 2-3 days in the short term.
- Operation suggestion: The K-line is close to the lower rail and EMA30, which can be considered as the initial position for opening a long position. If EMA30 turns up and EMA60 and EMA80 maintain an upward trend, it can be considered to add positions. EMA120 forms a strong support when overlapping, which is suitable for adding positions in a bullish trend. The current price is in the demand zone of 63550-62700, and it is in a rebound trend. Pay close attention to the M15 chart and look for opportunities to buy on the dips. Conservative investors may consider entering a long position after the stabilization at 62600. The key price level for long and short positions is currently 64550.

Wealth Opportunity:
The weekly chart of ALT coin shows that after several weeks of consolidation at the bottom, it has started to rebound. Both MACD and KDJ are showing a golden cross, accompanied by significant increase in volume, indicating that market maker funds have intervened. The current price still has 5 times the potential for upside compared to the historical high, with a favorable risk-reward ratio. It is recommended to buy on dips, and the future market is expected to appreciate significantly.

Operation Guide:
- Buy range: 0.115-0.13
- Target Profit: 0.24-0.29
- Risk control: stop loss set at 0.1
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