12.12

After the FOMC meeting, the market briefly experienced a positive landing, not to mention that Powell's speech and the dot plot were not as dovish as investors had imagined. Overall risk markets showed some emotional pullback, after all, we will soon face a large amount of data and the potential for Japan's interest rate hike. Both parties agree to officially include crypto assets into the US retirement system. Once the SEC and the Department of Labor revise the rules as requested in the letter, the spot ETFs of $BTC and $ETH will naturally become compliant assets for 401(k). Long-term, stable, and continuous pension buying will form a “slow but never stopping” accumulation force.

BTC
Yesterday, the outlook for Bitcoin was to fluctuate around 89,000 to 93,900. The recent oscillation range is also moving back and forth within this area. The time for a potential trend change is getting closer, but given the weekend market conditions, it is likely to first undergo some consolidation and correction. The strategy remains the same: as long as the 89,000 level is not broken, it can gradually lift off the bottom and attempt a small rebound. Meanwhile, if 93,900 is not broken, short-term risks should also be watched. So, it depends on which direction it moves next. Support levels are 89,000-86,800, resistance levels are 93,900-96,000.

ETH
Yesterday, Ethereum's outlook was to focus on whether the 3,195 level could hold. On the daily chart, it bounced slightly after reaching the corresponding level. Currently, as long as 3,155 does not break, it will oscillate upward. The current market should pay attention to whether the four-hour chart can continue to form higher highs and higher lows, which would indicate a healthy upward trend with a wave of good momentum. In summary, as long as 3,155 holds, expect oscillation upward. Support levels are 3,155-3,080, resistance levels are 3,360-3,438.