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Recently, the Fed maintained the interest rate, a decision that sparked widespread discussion in the market. Notably, this resolution saw two dissenting votes for the first time in 30 years, a rare phenomenon that suggests there are divisions within the Fed regarding the direction of monetary policy. This internal conflict could indicate that the possibility of a rate cut in September is increasing, which may have a positive impact on the crypto assets market.
From a technical analysis perspective, Bitcoin is currently in a consolidation phase, impacting the resistance level of $128,000. The market is showing a small bullish flag pattern, which is typically seen as a brief adjustment within an upward trend. Considering the current market dynamics, investors may be inclined to increase their positions during price pullbacks.
Currently, a price level around $116,800 (corresponding to the 21-day exponential moving average on the daily chart) may become an important support level. If the price can stabilize at this level, it may provide a foundation for the next round of increases. In the short term, market participants may focus on the price range above $119,000 as a potential breakout target.
However, investors should keep in mind the inherent high volatility of the crypto assets market. Although current technical indicators and the macro environment seem favorable, market sentiment can change rapidly. Therefore, it is essential to conduct a comprehensive risk assessment and develop appropriate risk management strategies before making any investment decisions.