Yesterday, Powell hinted that the rate cut would not come so soon, which was equivalent to a disguised hawkishness. The group directly opened a short order. The appropriate market needs to be applied with the appropriate thinking. This morning, it returned to the starting point.

The four-hour moving average suppression brought a decline in the chart, but the volume fell compared with the previous period. There was no new low and no increase in volume. The conditions for chasing the short position have not been established yet. You can also see the analysis written in the group. If the price continues to be supported at the 60K position in the consolidation zone, and accumulates bearish CVD (incremental), BTC has filled the gap and can try to go long.

The liquidation chart also shows that Bitcoin cleared most of the clusters below in the morning, including ETH. There is nothing below How can it be swept? The main reason for this wave of decline is that the expectation of interest rate cut in September has been reduced, so the decline caused by it is not what you understand. Not talking about it is equivalent to good news in disguise.

Note that the trend this week may not be very strong. Bulls should try to focus on short-term rebounds. Don't be sloppy. The US stock market will be closed on Wednesday and Thursday, and non-agricultural employment and unemployment rate will be on Friday, so the market will be colder than usual.

The intraday support can refer to 60,000 for operation. Our short position is also here. The second support level can be placed near 59,200. It can be used as a position to cover positions. If it can recover 61,000, it has the opportunity to become a large-scale rebound.