$BTC 9.16 Bitcoin Market Analysis
Bitcoin fell below 59,000, and it is not recommended to chase shorts at present.
Reason 1: The big cycle is bullish. After the Z wave adjustment ends, it will continue to rise.
Reason 2: The e wave of the Z wave decline can be long or short. If it is short, it will end at around 57,000, and the profit of short orders is limited.
Reason 3: The d wave rebound may not be over yet, and it may rebound again to around 62,000 US dollars.
At present, it is still mainly on the sidelines. If it hits a high point to around 62,000, short orders can be arranged for the e wave decline; otherwise, wait for the end of the e wave to arrange medium- and long-term long orders.
Short at a high point of around 62,000; otherwise, wait for the end of the e wave to arrange medium- and long-term long orders.
