Hello everyone, I am the director. Bitcoin fell again under the hard-line speech of Powell of the Federal Reserve yesterday. This time the decline is slightly different, and you need to pay attention. Daily level: First of all, the daily moving average has begun to show a trend of short-selling arrangement. Once this moving average diverges, it is difficult to easily change the current trend.

Secondly, yesterday's negative line was a negative line with volume and fell below the bullish engulfing formed previously, which was a strong blow to the bulls.

The downward channel at the daily level still controls the market. The continuation of this channel means that there will not be a significant increase in the near future.

This round of rise from 19500 to around 31000 and then began to pull back. The Fibonacci 0.618 support level is around 23900. There is a possibility of a rebound here, so you can pay attention to the support strength here later.

From a macro level perspective, the overall trend is still bearish! So the small level follows the large level, and we try to use high altitude as the main logic. From the hourly trend, since it has fallen below, the support and resistance are swapped. You can pay attention to the pressure of this small range near 25500. If the market rebounds to this range later, you can short sell.