In the early morning, the market movement followed a textbook "crash followed by consolidation" pattern. Following statements from the Federal Reserve and Powell, despite the absence of obvious hawkish rhetoric, market sentiment remains cautious. The price rebounded to around 71,900 but faced selling pressure and retreated. Bitcoin briefly dipped to around 70,400 in early morning before finding support, and is currently consolidating around 71,000. Ethereum, on the other hand, recovered earlier in the session, faced resistance around 2,225 and declined, bottoming near 2,150 in the evening before recovering to around 2,190 where it continues to consolidate.
From the daily chart perspective, Bitcoin formed a massive bearish candle today that completely engulfed the gains from the previous three days, creating a "dark cloud cover" bearish pattern. The daily K-line broke below the 5-day and 10-day moving average support, now testing the 30-day moving average below. The MACD fast and slow lines are about to form a bearish crossover above the zero line, with bullish momentum already dissipating. If the crossover is confirmed, a formal adjustment at the daily level will begin. The 70,000-70,456 zone below represents a previous high-volume trading area and is an important support band at the daily level. If this level breaks, there is risk of further downside. From the 4-hour chart, Bitcoin is in an accelerated downtrend phase after breaking above the uptrend. Since retreating from the 75,998 high, the price has consecutively printed large bearish candles, breaking through four resistance levels in a row, currently barely holding above 71,000. The K-line pattern shows a cliff-like decline, directly piercing through the Bollinger Band middle band and lower band, forming an effective breakout. After the MACD bearish crossover at high levels, it's accelerating downward with expanding green volume bars, with bearish momentum concentrating and releasing. Short-term rebounds are signals of bear accumulation. Our approach remains to maintain short positions at higher levels.
Bitcoin: short at 71,500-72,000, target 70,000 nearby. Ethereum: short at 2,200-2,220, target 2,150-2,100. #美联储利率决议 $BTC $ETH