【Last night, 1.7 billion CNY liquidity was plundered, and 51,801 people went bankrupt! Where is the key point today? 】
2024.8.16 9:13 AM BTC market analysis
Last night, BTC reached a high of 59,820 and a low of 55,969, which is less than $200 away from our key psychological pressure point last night. Did you chase too much last night? The evening summary specifically reminds you not to chase highs. Our evening watershed period 00:00-01:00 has become the evening high again. At this moment, it is consolidating at the 57300 line, which is just a small support level after breaking through our yesterday's strength and weakness watershed;
BTC attention
Support 55300-55500/54055/51500
Pressure is temporarily set at 59000/60000
Although the decline in the early morning last night was very fierce, it was supported at the bottom support trend line of yesterday's decline. If the secondary confirmation support of the bottom trend line is completed today, there is still a demand for a pullback. This market is now opening and closing, and the purpose is very clear, which is to accelerate deleveraging and harvest liquidity!
The trend line support is at 56000±100 dollars. Just pay attention to the signals of breaking and recovering during the day here!
