Main Selling $ETH | Strategy: Go long on pullbacks, start with the food, then tell the story
$ETH Rose from 2356 for three consecutive bullish gains, closed at 2619 on 9/18. The song "Chinese People Can Fly" paired with $ETH This rebound is just right. Go long on pullbacks, enter near 2580, stop loss at 2470 (below the opening price on 9/17, structure level), targets T1 2700 and T2 2850, 5x leverage, P/Loss ratios about 1:1.1 for T1 and 1:2.5 for T2. Funding rate has risen from 0.0007% to 0.0086%. Bullish sentiment has returned but hasn't overheated yet. Chasing higher risks are much higher than pullbacks; waiting for a pullback before rising is more reliable.
Super Central Bank Week: The whole world is taking bitter pills together
The Fed raised rates by 25 basis points to 3.75%-4.0% in the early hours of September 17, the first time since 2023, and the dot plot even hinted at another hike within the year—hawkish stance. The ECB acted first on September 10, and the Bank of Japan followed suit by 25 basis points to 1.25% on September 18. The last time the three major central banks raised rates simultaneously was in 2006. This time, due to Middle Eastern fire, oil prices were pushed rather than overheated. The medicine didn't hit the right spot, but they had to force it in.
On the day of the U.S. stock market, the three witches actually rose, with the Dow up 0.61%, S&P 1.14%, Nasdaq up 1.69%, and Philadelphia Semiconductor up 3.14%.
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