Has the trend changed? It depends on the upward support trend line built from the four-hour low point of 86666 on November 15.
As long as this trend line is not broken, it means that the short-term upward trend remains intact, even if there is a pullback of nearly 10,000 points.
A market movement is composed of multiple stages with different changes: rebounds, oscillations, and pullbacks; even the strongest bull market cannot continue in one direction!
Currently, the overall upward trend of Bitcoin is good. Although this pullback has a significant force and amplitude, it has not broken the support trend line on one hand, and it is also due to news factors on the other hand.
However, whether the Federal Reserve raises or lowers interest rates will not affect the overall direction of cryptocurrencies; it will only provide real-time stimulation for short-term fluctuations.
The four-hour support is at 98500, which is almost exactly the low point of the morning pullback. For the short term, pay attention to the support situation at this level; if it holds, Bitcoin will continue to rebound based on this position!
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Impermanence brings impermanence brings impermanence brings!!!
Important things are said three times!!!
