Analysis on September 19; #BTC☀

At 2 a.m., the Federal Reserve cut interest rates by 50 basis points beyond expectations, and U.S. stocks rebounded quickly, while Bitcoin only rose slightly.

After Bao's dovish speech, Bitcoin even experienced a wave of declines, and did not rebound until after 4 a.m., clearing the short position of 61,800.

From the hourly level, the Bollinger Bands have broken through the upper track, reaching 62,589 this morning, and then the small-level decline hovered around 62,000. In the short term, 62,000 is a critical position. Only by standing firm can it continue to move upward, so it is not recommended to chase more in the short term.