Last night's speech by Powell can be said to have drawn a conclusion for the market: the interest rate cut cycle has temporarily come to an end!
Although the entire interest rate cut cycle is not over yet, the Federal Reserve has pressed the pause button this time, and all good news has been exhausted!
In the upcoming market, don't blindly be bullish anymore.
94500 is just a temporary high point; the next may be the bears' main stage.
BTC surged to 94500 last night but could not break through.
This basically confirms that this is a temporary high point!
There may be a wave of high temptation, but if it does not exceed 94500, the market will start to plunge!
Intraday pressure: 91800-92500
Short-term pressure is at 91800-92500; as long as it doesn't go up, BTC's trend will not be strong, and the bears will still be in control!
Today's support is at 88800, 86800.
It is highly probable that it will consolidate around 90k.
The news of Japan's interest rate hike will continue to suppress the market, and BTC will not have much room for significant increases in the short term!
In the next few days, there may be high temptation, but before the 19th, the market will likely weaken.
PIPPIN
