March 18 Early Morning - Fed Decision

At 2:00 AM Beijing time on March 19, the Federal Reserve announced its interest rate decision. The market consensus expected rates to remain unchanged, with bearish expectations already fully priced in. Once the decision was announced, it was more likely to lead to a scenario where bad news is exhausted, followed by stabilization and a rebound.

Currently, BTC is consolidating around 72,300, having completed a short-term sharp decline and washout. The support zone between 72,000 and 71,200 is strong, with robust buying support. Technically, the KD indicator has turned at low levels, bearish momentum is weakening, and there is a strong demand for a rebound from oversold conditions.

If Powell's comments are neutral to dovish and leave room for rate cuts, a weakening dollar will directly boost BTC, and bulls may launch a counterattack. Even with neutral statements, funds will flow back in to establish positions.

Focus on long positions on dips, and accumulate on pullbacks!!!