3.18 Morning market analysis of Bitcoin: Can Bitcoin surge 5,000 points overnight and break through 60,000 again?

Today's information:

Today's information:

In the early hours of the 18th Beijing time, the much-watched Fed March interest rate decision was announced! Federal Reserve Chairman Powell delivered a speech.

Market analysis:

The Fed said inflation will rise this year as economic conditions improve, but it won't raise rates until 2023.

Federal Reserve Chairman Jerome Powell said the dangers facing the U.S. economy were clear a year ago and the economic recovery was uneven. The labor force participation rate remains below pre-pandemic levels, and the unemployment rate is still rising. In addition, he said inflation remained below the 2 percent target. Forecasts by Fed policymakers (for the economy) have been significantly revised upwards. A short-term increase in inflation above 2% does not meet the criteria for raising interest rates and is still a long way from achieving the employment and inflation goals.

Market analysis:

We can see from the 4-hour chart of Bitcoin that there has been a decline from the high of 61,800 on March 14, the lowest around 53,000, and the callback is close to 9,000 US dollars. If it is not for the impact of the Fed last night, then the next bearish trend is undoubtedly. However, now affected by the news, we have to look at it again. Technically speaking, the top 60,500 and the high point of 61,800 must be the current strong pressure level. The pressure before last night was at the 57,000 line. After the breakthrough last night, then this position will form a support according to the top-to-bottom transition of Dow Theory.

Operation idea:

Operation idea:

1. Enter an empty position near 60000-60500, and the target is 58000-57500-57000. According to the market, the short position can be covered around 61000, and the stop loss is 61500.

2. Enter long orders around Bitcoin 57000-57500, target 59000-59500-60500, stop loss 56000. If the loss is stopped, the market will rebound to around 58,000 to intervene in empty orders, with a target of 54,000.

The article is time-delayed, and the market analysis and interval operation suggestions are for reference only. The market is changing rapidly and requires real-time analysis and follow-up. The operation suggestions are for reference only.