Last night's Powell's dovish remarks triggered a significant market rebound, and the current market trend aligns with the characteristics of the so-called 'B-wave'. Next, we need to closely follow the strength of the B-wave, as it will have a significant impact on future trends.

If the rebound of wave B exceeds 61.8% of wave A, then the possibility of a subsequent decline of wave C breaking below the bottom of wave A will be greatly reduced. In this case, we may see a relatively mild adjustment process.

On the contrary, if the rebound strength of wave B is insufficient and fails to break through the 61.8% position of wave A, then we may face a stronger wave C decline. In this case, the decline of wave C typically reaches 1 to 1.618 times the magnitude of wave A, and in extreme cases, it may even reach 2.618 times. This will put significant downward pressure on the price of Bitcoin, potentially entering a broad range of $12,883 to $33,727.

It is worth noting that while technical analysis provides us with a framework for observing the market, the high volatility of the cryptocurrency market means that any predictions carry uncertainty. Investors need to take into account multiple factors such as the macroeconomic environment, regulatory dynamics, and market sentiment when making decisions.

Moreover, Powell's remarks have had a short-term impact on the market, but in the long run, the value proposition of Bitcoin and the development of its underlying technology are the key factors determining its future trajectory. With the continued entry of institutional investors and the gradual establishment of Bitcoin's position in the global financial system, we may see more interesting market dynamics.

Regardless, in this rapidly changing market, staying vigilant, managing risks, and conducting thorough research and analysis is always a wise investment strategy.