#保护你的资产 4. Morning Market Overview on 16: Powell remains hawkish, don’t expect the Fed to step in to save the market

Bitcoin opened with upper and lower shadows forming a solid bullish candlestick, appearing as a penetrating bullish pattern compared to yesterday, with Japan oscillating upwards.

In the early morning, Powell delivered a speech: don’t expect the Fed to step in to save the market, Trump is changing every day, and the market is digesting the current declines in the stock market and U.S. Treasury yields; immediately after this, Bitcoin started to plunge rapidly, and by market close, the Dow fell by 1.73%, Nasdaq by 3.07%, and S&P 500 by 2.24%.

Everyone should have benefitted from yesterday's long positions, as Bitcoin repeatedly tested the daily support around 83 and then rebounded; for now, this is a temporary bottom; the target of 85 was also reached, peaking at 85.4, with the remaining position hedged at 85.8-86.4; the trading strategy remains unchanged, with a long entry around 83.2 for protection at 83 targeting 85, or entering long on a right-side breakout above 83.5; for high shorts, still choose to enter in batches between 85.8-86.5, with protection at 87.2, targeting 85.

Trading is actually very simple - execute according to strategy, dare to open positions, and even more so to defend; it’s better to make mistakes than to be afraid of trying; trading is itself a process of constant trial and error, followed by corrections and summarizing experiences.

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