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Recently, due to the Favourable Information of the 50 basis point cut by the Americans, the entire market has experienced a Rebound of different magnitudes, and market sentiment is beginning to gradually recover! There has also been an increase in different magnitudes of altcoins, so it is worth waiting for the future market movements!
The 4H backwardation after yesterday's initial market data surge toward 64100 did not show significant downward pressure, with initial support in the 62000-62500 zone over the weekend. If market data cannot break the key support area, BTC will continue to have bullish momentum, with initial resistance in the 65000 zone and, once surpassed, in the 67000 zone.
The Exchange Rate of ETH/BTC has stopped falling, and in the last few days, the degree of strength of ETH compared to BTC, which comes from the relationship between Ethereum and the Exchange Rate, can be clearly felt. In the short term, the current resistance is close to 2650, after breaking it, the next target would be around 2800. Currently, ETH shows a strong Rebound trend, with support around 2500-2530 at the bottom, so the short-term strategy remains to buy on pullbacks and follow the trend.
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