September 16/Bitcoin top divergence and sharp drop, wait patiently
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On September 16, Bitcoin indeed plunged to around 58,000 due to a top divergence, with the lowest point of 57,500 matching the support level of 57,000 in yesterday’s article.
If Bitcoin holds 57,000, it will repeatedly hit 60,000. If Bitcoin falls below 57,000, it will reach 55,000.
Cognition Society believes that the most significant impact on the market is definitely the interest rate cut on September 19, so it is important to pay attention to the interest rate cut meeting in a timely manner. The first interest rate cut is extremely important.
The important thing is not to imagine that the market will soar immediately after the interest rate cut, but that this is the first time and the first day of the interest rate cut. The interest rate has been cut slowly for 25 years and many times. After a large number of interest rate cuts, the market will have enough liquidity and money, which is the basis of the bull market.