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Tonight at 11 PM, Powell will appear on Capitol Hill to deliver the semi-annual monetary policy report. With Trump and Musk closely watching, how will he respond to key issues such as the economy, inflation, and the monetary policy outlook? His statements are expected to cause significant market fluctuations. If you feel uncertain about the market’s direction, you can either observe calmly or simply sleep through it!
BTC tested the 4-hour support level at 96,800 multiple times last night without breaking through. Today, it has surpassed the second resistance level on the daily candlestick at 98,000. Watch for resistance levels and potential short positions at 98,325, 99,100, and 100,100. If BTC drops below 96,888 today, the 4-hour rebound will fail, turning the market bearish. Key support levels to monitor are 96,466, 95,888, and 95,388.
On a smaller scale, the market is still searching for a rebound. The daily candlestick faces pressure at 2,746, with support at 2,651. If this level holds, the market may continue to rebound, aiming for 2,800 after breaking through resistance. Key resistance levels for short positions are 2,725, 2,746, and 2,788. However, if the price falls below 2,651 today, the 4-hour rebound will fail, turning the market bearish. Watch for support levels and potential long positions at 2,618, 2,592, and 2,558.
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