Yesterday it was mentioned that Bitcoin has shown signs of being oversold, and the probability of scenario 1 occurring is relatively high.

However, last night Powell's dovish turn led to a rapid rebound in Bitcoin, forming wave B, which validated my judgment.

Nevertheless, Powell's dovish stance is a medium to long-term positive; currently, it is just news-driven stimulation, and in the short term, it cannot bring incremental funds to the market. Therefore, the sustainability of the rebound remains in doubt, and chasing the rise at this moment carries considerable risk.