Bitcoin started to pull back at 116605, and next week's 918 will kick off the Federal Reserve's interest rate cut meeting. Will this pullback reach 110000!!
This round of Federal Reserve interest rate cuts does not indicate positive economic conditions; on the contrary, a 50 basis point cut suggests that a global financial crisis is not far off. As a risky investment, Bitcoin has also fully priced in the benefits, and a significant pullback is expected later.
Among the few coins that have risen significantly, sol, bnb, and hype are the first to undergo a major pullback. Long Ge said that entering the altcoin market is not as good as dealing with Bitcoin. For Bitcoin, we should focus on the two levels of 116500/121000! Once at those levels, set a stop-loss for short positions, and then just hold on! Wait for the pullback to happen and enjoy the profits!
BTCUSDT
Perp
67,353.7
+1.30%