Looking back at yesterday's market, Brother Long specifically mentioned that the four-hour level pullback reached support. Last night there was another rebound, but now we can see that the height of the rebound is lower than the previous high, so Brother Long still believes that the short-term direction of the market is downward.

Returning to today's market, the daily level had a spike upwards yesterday, marking three consecutive days of upward spikes, indicating that the bearish momentum here is still relatively strong.

The four-hour level has started to show a trend of oscillation downwards following the formation of a top divergence. Yesterday, the U.S. stock market opened and kept declining, while Bitcoin remained strong and rose until Powell's speech, ultimately forming a pin bar. After stabilizing, it closed at the lower Bollinger band. We still need to pay attention to the direction of the MACD; if it approaches the zero line and crosses below it, that might signal the beginning of a downtrend!

Throughout the day, the one-hour level has consistently been supported above the Vegas channel. A concerning observation is that each time it touches this support, it breaks below before recovering, which has happened three times now. Therefore, if we test it again today, it is very likely to break through completely. Additionally, if the MACD forms a death cross below the zero line, the market will slide down smoothly. $BTC #鲍威尔发言

Currently, the cryptocurrency market is heavily influenced by news sentiment. The decline started right after Powell's speech yesterday, then there was a rebound when he mentioned the easing of policies in the crypto market, but later he stated that there wouldn't be any political pressure, implying that if it's not the time for rate cuts, then cuts can't happen, and the market continued to fall. Such movements are now completely controlled by news.

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