So, guys, the FOMC results are out with no rate cut, but Jerome Powell's press conference was slightly positive. He mentioned that banks could provide services related to crypto, which helped prevent a major market bleed. However, this does not mean volatility has ended.
In the next 40 hours, you may see quick ups and downs. After that, if there’s no negative news, we might see a slight uptrend. But this doesn’t mean you should hold your position indefinitely. If you're stuck 30-40% down, you can cash out at break-even or take a small profit if possible.
Since alts are already down 30% over the last two weeks, if you expect to recover old positions and then go 5x-10x, it may sound harsh, but that’s unlikely to happen. Every country and financial institution is discussing Bitcoin and new regulations, which increases BTC dominance and causes altcoins to bleed. Protect your funds.
Don't rely on technical analysis alone—it only works when there are no major fundamental changes. If any fundamental news comes out, technical analysis becomes ineffective.