The 58,000 support given in the analysis on the 10th rebounded to 59,700, and then fell to around 57,000 due to the news. It is recommended to wait and see more and operate less in this kind of up and down seesaw market. My personal opinion is still short-term bearish and long-term bullish.
The operating framework of BTC is now very clear, the lower half of 56,000-54,000, the upper half to 59,700, now the long chips are more and more concentrated, and the bottom-fishing is also increasing. If the market returns to the lower consolidation zone again, it will increase the probability of creating a low point, and continue to liquidate longs to test the 52,000-50,000 support.
The German selling pressure has almost been digested by the market, and there are more than 6,000 BTC left. There may be a period of Mentougou selling pressure next. Yesterday's CPI positive rate cut expectations have been pushed forward to September, when the negatives of Mentougou will be exhausted, the US election, ETH upgrade, Ethereum ETF, FTX release funds and the Fed will release money. The current stage is to patiently wait for the right position to hoard coins.
Intraday operations still refer to wide fluctuations, the resistance level is 58,000, and the support is 55,500-56,000. There are many spot orders here on the liquidation chart, and they are all liquidated regardless of the high or low multiples. In the volatile market, remember to stop profit and reduce positions frequently.
