Bitcoin is now stuck at the intersection of that damn downward pressure line and the 50-day moving average. This position has been like a meat grinder for months, with the bulls getting pushed back every time they try to climb up.

If the buyers still want to turn things around, this is the strategic high ground they must seize. Once broken through, there is room for imagination; if they can't break through, prepare to continue to struggle in the mud.

And today, it just so happened to coincide with the FOMC meeting. Powell can say anything, and the market can instantly surge. The true direction will quickly become clear.

Honestly: at this position, technical traders are watching for breakout signals, macro observers are waiting for the Federal Reserve's statement. Essentially, everyone is waiting for an unexpected variable. The big moves usually don't follow the script; they come from the unlikely places.