Bitcoin started the week with heavy selling pressure towards the $117,300 support level that we have been monitoring as a temporary support and accelerated its downward trend. After the breakdown of this support, the lower line of the rising channel came into focus, and the $BTC price fell below this support level, which coincides with around $115,600. If we analyze the downward trend over the last week, we can see that the price has slowed down to an average of $112,500 by mid-week. Technical indicators showed that Bitcoin has reached an oversold territory in the short term. The slowdown of this correction in the #Bitcoin price indicated that the markets entered a wait-and-see mode ahead of Powell's announcement. The area where the price has entered this waiting process corresponds to a level close to the 3-month EMA value, which serves as an important dynamic support. A similar outlook emerged during the pullback in June, where BTC had turned upward again in response to the 3-month EMA value and returned to the rising channel. If Powell gives signals to increase risk appetite this evening or remains more neutral instead of a hawkish tone, it could trigger buying. This could allow Bitcoin to return to the $114,600 region in the first stage and then move towards the $120,000–$125,000 range along with an upward trend. In a negative scenario, if heavy selling occurs below the EMA value located at $111,500 today, we could see a pullback towards the $106,000 band.