Bitcoin market analysis on September 5

Looking back at the early hours of this morning, Bitcoin experienced a sharp rise, followed by a significant correction.

Judging from the current trend, the 4-hour chart shows an obvious short trend, and the MA moving average continues to weaken.

The early morning downtrend shows that bears still dominate the market. In the short term, a rebound can be expected, but there may be a subsequent pullback. It is recommended to focus on the support level of $57,000.

At noon, it is recommended to consider shorting during the rebound.

Operation suggestions:

Short: Enter the market near $57,800/58,000, with a target of $57,000/56,500.

Go long: Enter the market near 56,500/56,000 US dollars, with a target of 57,500/58,000 US dollars.