Why did many people wait for BTC to go on a second test before it continued to rise?

The decline on August 5 was actually the result of a one-time calculation of various negative factors such as the Japanese stock market circuit breaker + US recession expectations + Jump crash, which caused BTC to fall below 50,000 at one time, and then fell back to 50,000 again after the opening of the US stock market, until the release of manufacturing data eased the market's concerns about the economic recession.

The closing price of the US stock market on August 6 did not fall sharply. In the morning, the Japanese stock market circuit breaker upward, and the world was saved when I woke up. It was found that the crisis did not break out, and it was far less pessimistic than everyone expected.

The Federal Reserve and the Bank of Japan are very smart. The most critical thing in the financial market is confidence. When confidence is restored, risky assets will no longer be sold crazily, and the cycle will not be triggered. But the actual risk has not been eliminated, but enough space and time have been left to solve it, at least it will not develop into a big thunder at present.

This time, BTC is rapidly regaining lost ground and will soon reach the strong pressure level of 58,000-60,000.

At present, the price is 60,000. If the price reaches this level, it is not recommended to increase the position. Just wait and see.

From 50,000 to 60,000, it is a 20% increase. It may follow a similar path. There is a high probability that it will be verified to fall back to the strong pressure level.