Hourly levels continue to show a downward trend. Although the daily chart has shown a slight pin bar pattern, there will still be a speech by Powell tonight, so whether this pin can be 'maintained' is still up for debate.

If Powell's speech tonight triggers a short-term sell-off in the market again, we should still pay close attention to the support situation around 111,300.

At the same time, we need to monitor whether the buying power at key positions can be successfully activated after a short-term sharp decline.

As for #ETH, its current trend is stronger than BTC. After previously filling the gap, it was initially thought that it would maintain a synchronized downward movement, but unexpectedly, it quickly rebounded and stabilized. Currently, the short-term support at 4220 remains effective!