LOEx Market Research Report on June 17: The Fed not raise rates, the subject coin rebounded

[Hot Tips]

1. [Republican House of Representatives campaign agency will accept cryptocurrency donations]

According to JIN10, the AXIOS website shows that the Republican House of Representatives campaign agency will accept cryptocurrency donations.

2. [SEC postponed its decision on Vaneck Bitcoin ETF]

The SEC stated that it is seeking more opinions on BTC ETF of Vaneck and therefore postponed its decision on BTC ETF of Vaneck.

3. [Fed discusses interest rates]

The Fed will keep the benchmark interest rate unchanged at 0%-0.25%, and seven Fed officials expect to raise interest rates before the end of 2022.

[Market analysis]

Bitcoin (BTC)BTC began to pull back last night, and oscillated at 38600 USDT in the early morning. BTC is currently trading at 38768 USDT on LOEx Global, a decrease of 0.03% during the day.

Inflation is not out of control, and the Fed does not raise interest rates. Specifically, vaccines are progressing and the epidemic is under control, but economic expectations are still poor. The Fed reiterated the goal of monetary policy to maximize employment on the basis of a long-term anchor of 2% inflation.

From a technical point of view, the market was a normal adjustment last night. The news is waiting for news from the Fed in the middle of the night, even if it implies that interest rate hikes may bring tightening panic. However, after the news of no interest rate hike came out, BTC did not rise, indicating that BTC has nothing to do with the macro aspect. It is completely the trend has reversed. If there is no incremental entry, it will be difficult to turn the tide, except for other currencies except BTC. With the positive news, there are gains. In fact, the market is back to the market. After careful study, there are still hot spots that can be followed every day. These two days of rebound, the highest concern is oversold, high-quality coins, new concepts, and a fast rebound!

Operation suggestions:

Support level: the first support level is 38,000 points, the second support level is 35,000 integers;

Resistance level: the first resistance level is 41,000 points, the second resistance level is 43,000 points.

LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Monetary Authority of Singapore (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 2 million community members in 24 hours.