Today's Market Analysis

March 18 Market Analysis
Today's market will mainly be characterized by range-bound fluctuations. The resistance level for BTC is 85,000, and the support level is 82,000. If BTC can break through the key level of 88,000 before the interest rate decision is announced, then the subsequent pullback is unlikely to break the previous low. Conversely, if it fails to break 88,000, the pullback may break the previous low. Tomorrow is a turning point, and there will also be an interest rate decision. After the interest rate decision regarding futures and spot trading tomorrow, it won't be too late to choose a direction and take action.
Impact of the Interest Rate Decision
The market generally expects that on March 19, the Federal Reserve will maintain the interest rate at 4.25%-4.50%. If Powell sends hawkish signals, such as emphasizing persistent inflation and the need for continued rate hikes, it may trigger severe market fluctuations, leading to a potential decline in US stocks and a significant drop in cryptocurrencies like Bitcoin, possibly even breaking key support levels. Conversely, if dovish signals are indicated, such as suggesting future rate cuts or slowing down balance sheet reduction, it will be positive for risk assets, and cryptocurrencies like Bitcoin may break above the resistance level, starting an upward trend.