Bitcoin has been one of the most volatile states in recent months, and has been marked with a sharp swing that puts both bull and bears on the edges. The main cryptocurrency has surged to a new history of nearly $ 124,000, falling below $ 115,000 within a few days. This rapid reversal emphasized the vulnerability of exercise under overheating conditions, but emphasized the market rebound when the macroeconomic catalyst appeared.
The turning point began with the speech of Jerome Powell, chairman of the Federal Reserve Bank held in Jackson Hole. The main statement here caused an immediate market response. Powell suggests that the limited conditions can be adjusted by suggesting the potential changes of the policy position. In a few minutes, risk assets, including Bitcoin, have been floated back to the market, causing new optimism throughout the encryption space.
After the speech, Bitcoin recovered his power and climbed over the $ 115K support area. This recovery has a strong feeling with merchants, watching the next resistance level that can determine the short -term trajectory. The wider encryption market showed a new momentum as investors re -allocate capital.
Bitcoin gifts respond to Powell’s Jackson Hall speech.
According to DarkFost, the chief analyst, the speech of Jerome Powell, chairman of the Federal Reserve in Jackson Hole, served as a powerful catalyst for Bitcoin Future Markets. According to him, POWELL said, “The policy of limited areas can guarantee that the baseline prospects and risk balance can guarantee our policy of adjusting our policy, and this subtle but influential statement suggests the potential relief of the Fed’s monetary policy and immediately triggered the surge in optimism in the global market.
The reaction in the encryption was rapid and decisive. Fifteen minutes after POWELL’s speech, more than $ 300 million has been flooded in Binance’s BINance Bitcoin Futures market. Due to this sudden inflow, the Binance BTC public interest has been pushed to about $ 13.3 billion, and emphasized how sensitive the crypto derivatives market is for the mobories.
DarkFost pointed out that this surge is emphasized in an environment in which the market productivity of central bank communication, especially liquidity conditions, plays a decisive role in speculation demand. Bitcoin’s sharp response reflects a wider risk as a merchant places himself for the possibility of loose financial conditions that prefer high -yields and alternative assets such as BTC.
The event also reaffirmed the volatility of Bitcoin futures, which can quickly amplify the price movement. In this case, the demand surge in demand has strengthened the strong feelings of the entire market by matching the BTC, which regenerates major support areas.
BTC test intensive care resistance
Bitcoin’s four -hour chart shows strong volatility following PoWell’s Jackson Hole Remarks, and BTC rebounds rapidly at $ 112K to $ 116.5K. This sudden spike emphasizes how macroeconomic catalysts can cause liquidity inflow in a few minutes. The bounce matches the 200-200-Red Line recovery, and is currently at the current price and acts as an important short-term support.
Despite the rally, the BTC has recently been lower than the $ 123,217 resistance, and the price has doubled to the migration. The mid-term structure is still 50-SMA (blue) and 100-SMA (green) converging about $ 116K to $ 117K to create an integration by creating a decision area of the bull and bear. If you keep this area, you can open another high re -test path, while you can’t keep it in the $ 112K area.
Momentum indicators try to recover control rights, but price measures are not yet clean. For Bulls, defending $ 115K-$ 116K is important for maintaining a stronger structure. But bears will find rejection under the SMA to strengthen the downside pressure.
DALL-E’s main image, TradingView chart
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