Bitcoin closed ending an eight-day winning streak today. The closing candlestick pattern looks quite ugly, but the key point is it still closed above 73770, which is an important level. My personal view is that the Fed meeting result at 2 AM will definitely not cut rates, but the dot plot and Powell's comments are more important. If 75200 holds on the hourly chart with a solid candle body, we could see a big rally pushing toward 79800. If the narrative turns negative, there's a huge gap on the downside. However, I'm leaning toward the former scenario, with a higher probability of liquidity being tapped on the upside.

Ethereum's key level is 2311, which remains holding on the daily chart. Support below is around the 2-day MA at 2298. Ethereum has been quite strong this time, undoubtedly because of Bitmine's aggressive position building. If it holds above 2380 again tonight, the upside will target around 2670. Similarly, if Powell makes hawkish comments, the downside gap will also be substantial. I lean toward the former scenario.

Of course, for those without positions, this type of market environment is best avoided. Besides being long or short, there's one more smart choice called sitting in cash.

Wishing you good luck