2024.8.15 Market Analysis

The overall trend of Bitcoin is still in a state of shock. Yesterday afternoon, we predicted that the CPI data would meet or be lower than expected, which is good for the cryptocurrency circle. I also said in the VIP group that good news does not necessarily mean an increase, because the dealer has changed his tactics. In the case of the positive CPI data that everyone is paying attention to, yesterday, the price rose slightly and hit $61,800, and then quickly fell back to the lowest support level of $58,000. In fact, the current decline is just a normal correction. The current effective support level is around 56,000. The overall decline of the market is not very large. Now we just have to wait for BTC to fall to the right level, and then see what price ETH will synchronize to before we consider the layout.

The Fed cut interest rates on September 19, so the dog market will maintain bottom fluctuations recently, making the market very sluggish and constantly testing downwards. When everyone thinks it will break a new low again, it will break through 73777 in one go. Only then can we really be sure that the bull market has come. Feilong believes that the market will start half a month before the interest rate cut. There are still more than ten days of fluctuations. Are you ready to welcome the bull market? #BTC