Powell's dovish speech brought back the bull market overnight, and the price of Bitcoin rose as expected to break through $65,000.
Yesterday we analyzed that we cannot short in the general upward direction. If there is a profit in the short position, we must run. We cannot have a pattern. The daily K stood on M20, and the upward direction has been opened. Sure enough, Powell's speech was dovish for the first time in the evening. The September interest rate cut is a foregone conclusion. Bitcoin first soared 1,000 points and then immediately fell back to its original position. A long upper shadow line appeared on the hourly line, which lured the shorts, absolutely lured the shorts. After a large number of shorts were fooled, it rose in small steps again, breaking through the intraday pressure level, and finally rose to $65,000 as expected. The high-leverage air force was fueled for another night.
Today's analysis: The market fluctuations will not be too large over the weekend. From the K line, the 1-hour level is a downward trend, and the 4-hour, 12-hour, and daily levels are all upward trends. The intraday pressure level is 66,000 and the support level is 60,700.
