Bitcoin tried to break below $58,000 twice, but both failed$BTC

This shows that shorts are weakening and longs are slightly stronger

This will lead to a result: the price will rise slowly, and when the time is right, a big positive line will directly break through the key position

Maybe many people think it is impossible, but pay attention to the trend of the big drop on August 5

It is a small drop followed by a large volume drop below the important support, so that many people dare not get on the train even if they see the "cabbage price" chips

In the end, the market stopped falling rapidly and pulled back to a reasonable price

This is human nature: if you don't buy at a low price, you will not buy it even more when it rebounds; even if the article was 8 at that time No one dared to enter the market even though the tip was given on May 5 to buy the bottom

Now many people in the market are still waiting for Bitcoin below 49,000 before going all-in; I don’t think there will be Bitcoin starting below 5

Recent frequent large-scale Bitcoin sell-offs have not ended the market. Now the selling pressure has decreased, the Fed is cutting interest rates, and the US election is imminent, all of which are major positives

The short-selling mentality is formed by the main force breaking through the psychological defense line again and again. Bitcoin has not fallen, but the copycats have fallen sharply. These are all illusions, but it is obvious that the market now basically believes them

If you think from the perspective of financial giants like BlackRock, will they keep buying in a real bear market? Their money belongs to their customers. They are not like Buffett, who pursues the interests of timeliness.

Recently, too many people have been advised to buy at the bottom in August. Believe it or not, August is about to end; the result of waiting will only make the value currency more and more expensive.

The time for good currency layout is in August. No matter how you choose, we have already finished all the money; patiently follow the main force to eat a wave of fish belly market in September and October, which is enough for us to have a good year in 2024.

The above is just a personal opinion. Whether to buy or how much to buy depends on whether you can trust your judgment 100%. If you have any hesitation, fear, or worry, you should think twice before acting. Don’t gamble, don’t gamble.