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Fed Chair Walsh has just issued the latest signals of a more dovish policy stance.
He clearly mentioned that recent inflation risks have eased.
This directly boosted market confidence in the short term.
On the chart, the bears are collectively under pressure, and their positions have been damaged.
Catalyzed by the news, the 1-hour timeframe has already played out a bullish “bat” pattern.
The first resistance/suppression level overhead is at 60000-60700.
But as long as the 4-hour timeframe can’t effectively break through the 61000 level,
this round of the rebound can’t expand further.
The probability that this impulse-style rally is a “bull trap” is extremely high.
So it’s not recommended to blindly chase longs. $BTC