Is the rate hike taking a pause? The Federal Reserve has held steady as expected, maintaining interest rates for the third consecutive time.

Friends, early this morning the Federal Reserve's interest rate decision was announced, with the benchmark rate remaining unchanged at 3.50%-3.75%, marking the third consecutive pause in rate hikes, which fully aligns with our expectations! This indicates that the Fed remains cautious about current inflation and economic trends, not rushing to tighten further, but also not signaling any rate cuts.

Now, after the price broke below the middle band of the Bollinger Bands, it hasn't shown a decent rebound; the weakness is obvious. The support zone below is around 74,000-74,500, which is a confluence of previous dense trading areas and the lower Bollinger Band support. If it can't hold and also fails to return above 76,000, then the four-hour downtrend will be fully confirmed, and it will likely fall to around 73,000 later.

Bitcoin can be shorted near 76,500, targeting around 73,800; Ethereum can be shorted near 2,280, targeting around 2,180.