$BTC At 2 a.m., the Federal Reserve announced a 50 basis point rate cut. The U.S. stock market took off directly, while BTC slightly followed suit. After Bao made a dovish speech, it even fell a lot. It did not start to rise until after 4 a.m. to liquidate the short position at 61,800.
The current market is similar to expectations. After crossing 61,800, the short position will be liquidated. Next, it depends on whether the market can continue to fall to the price of 59,200.
$BTC daily line 62490 encountered resistance. In the morning, when analyzing in the group, I called for aggressive left-side shorting. If the 4-hour level cannot stand at 62490, it will continue to decline. The 50 basis points taken in one go are too big. Many people still see economic recession.
