The Federal Reserve's interest rate cut in October is expected to materialize. How will it affect the global market? According to CME's "FedWatch," the probability of a 25 basis point rate cut in October is 96.3%, while the probability of a 50 basis point cut is 3.7%.

After a decline yesterday, BTC, ETH, and other cryptocurrencies rebounded to new highs, but as of now, the prices have once again retreated to yesterday's starting point, which seems a bit like a magic trick. The so-called unchanged positions have disappeared. For such a wide-ranging and large-scale fluctuation, it is referred to as a washout, allowing more holders to exit, which then enables the coin prices to rise and attract more retail investors.

Looking at the four-hour chart, the price is basically moving around the Bollinger Bands. Therefore, as long as it stays within these two areas, trading high on the upper side and low on the lower side, we can say that there won't be any major surprises. The candlestick chart currently shows a double bearish engulfing pattern wrapping a large bullish candle. If it cannot close with a lower shadow breaking above the middle band, the price may continue to decline towards around 106,500, which has always been the boundary line between bulls and bears.

Aggressive traders can buy on any pullback below 108,000, while conservative traders can look to buy on pullbacks in the 106,600-106,200 range, targeting a continued rise towards the 114,000 level. The points are for reference only; actual operations should be based on real market conditions.

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