Evening Thoughts on March 19:
Currently, the Federal Reserve's decision on interest rates is still uncertain, market sentiment is not showing significant fluctuations, and it has been moving sideways. The bulls are exerting effort to launch a new round of rebound, but looking at the momentum of the rebound, the bulls seem to be slightly lacking in strength.
At the four-hour level, if Bitcoin can initiate a new round of rebound, then the upper resistance may be opened, and the market pattern might welcome a turning point; conversely, if Bitcoin's rebound is weak and difficult to continue, the market is likely to test lower levels, similar to yesterday.
I personally feel there will be a rebound followed by a downward test to confirm the support level below. Recently, I have repeatedly emphasized the range of fluctuations; this is also an essential process for the market to seek solid support. An increase purely stimulated by news is just a fleeting thing without roots, fundamentally unable to shake the larger technical structure of the trend.
Bitcoin short near 83500-84000, looking down towards 79000-81000.
