According to TechFlow, Matrixport released today's chart, saying that Bitcoin prices may experience major fluctuations. Recently, cryptocurrencies have been fluctuating in a downward channel. Although there were signs of rebound, their upward momentum may have stagnated. This is the eve of the Fed's interest rate decision, especially Chairman Powell's guidance on future interest rate cuts, which has attracted much attention.
Currently, a newly formed triangle pattern is exerting downward pressure on the price of Bitcoin. The market focus is on Chairman Powell and his economic outlook, as his speech is likely to influence the next direction of the market. Bitcoin has increasingly evolved into a macro asset that reflects overall economic trends.
