$BTC

Bitcoin Market Analysis and Outlook

The overall performance of the current Bitcoin market is weak, and both technical aspects and capital flows show that short-selling forces dominate. Short-term capital outflows are obvious, with a net outflow of -5.03K BTC in 24 hours. Although there is a small amount of capital reflux in 1 hour, it is difficult to reverse the overall trend. In addition, MACD short-selling momentum continues to increase, the RSI indicator is in a weak range, the KDJ crosses downward, and the moving average system also shows downward pressure.

From the perspective of key support and pressure levels, 103,000 USDT is an important support in the near future. If it falls below, the price may further drop to 100,000 USDT. The upper pressure levels are 106,000 USDT and 108,000 USDT, and it is difficult to break through in the short term.

In terms of fundamentals, the expectation that the Federal Reserve will cut interest rates has failed to effectively boost market sentiment, but there is a risk of a "selling fact" effect. Investors are cautious and wait-and-see.

Operation suggestions:

Mainly bearish: enter short orders near 104,500 USDT, with profit targets of 103,000 USDT and 100,000 USDT, and stop loss at 106,000 USDT.

Bounce on dips: If the support of 103,000 USDT is stable, you can arrange long orders with a light position, with the target at 106,000 USDT and a stop loss at 102,000 USDT.

On the whole, Bitcoin still has the risk of going short in the future, and it is necessary to focus on the performance of key support levels and make flexible operations based on the market reaction after the Fed's interest rate cut.