Whether the trend has changed depends on the upward support trend line constructed from the four-hour low 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 it has retraced nearly 10,000 points

A round of movement is composed of different changes in multiple stages, including rebounds, fluctuations, and pullbacks; even the strongest bull market cannot continue to move unidirectionally!

Currently, the overall upward trend of Bitcoin is good. Although this pullback has been significant in both strength and magnitude, it has not broken the support trend line on one hand and is also due to news on the other

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 to short-term fluctuations

The support on the four-hour line is at 98500, which is roughly the low point of the morning retracement. For the short term, pay attention to the support situation at this position; if it holds, Bitcoin will rely on this position to continue its rebound!