Attention everyone!

There is a meeting at the Federal Reserve early in the morning, which everyone can pay close attention to, as it will decide whether to lower interest rates. It is highly likely that the rates will be cut by 25 basis points. The market has already reached a consensus that this is a positive development, and Bitcoin has continuously refreshed its historical highs, which is due to the early digestion of this good news.

Today's overall trend continues the bearish market from midnight yesterday, with the price of Bitcoin dropping to around 103,000 at noon, which is a decline of over 5,000 points. This pullback is quite strong, but then it began to stabilize and show a relative upward trend. From a short-term 1-hour perspective, after the bears hit the support range and reduced volume, as shown in the figure, there will still be room for further upward movement!

Evening trading advice:

Buy Bitcoin around 104,800-104,500, aiming for 106,000-106,500.