Yesterday, I shared that you shouldn't open a position at 94k-95k, but if it breaks below 94k, you can go long around 93500. If it breaks below 92800, stop loss and exit. However, the low hit 93200, and then New Hampshire signed the $BTC Strategic Reserve Act. Although the buying volume can't compare to $MSTR, BTC's status has taken a significant step forward. Confidence has increased again, similar to the 10-year bull market in gold after the ETF approval.
In the early morning, $BTC quickly rebounded by 3,000 dollars. Are we going to touch 98,000 again? Luckily, I wasn't proven wrong!
However, there is still an interest rate meeting tonight, and it is highly likely that they will maintain the interest rates without lowering them, as expected by the market.
Then there's old Powell's speech, which is unlikely to be very dovish. The volatility tonight will definitely be significant. Although the state strategic reserve just passed, which is a positive, the sentiment from tonight's interest rate meeting will surely have a larger impact.
But tonight is destined to be very volatile. Perhaps the direction for the next few weeks will depend on tonight.
The previous bulls and bears wrote very refreshingly, but with the current price continuing to be low leverage long, I personally wouldn't recommend it. What if the sentiment turns bad!
