【2024-8-3 Market Trend Analysis】
The current daily correction of the market has broken the weekly line. Everyone should pay attention to the rebound of Bitcoin in 1 hour. If this rebound does not break through: 63081.6, it will continue to fall. If the 1-hour rebound does not break this position, we can see that it is short: 60957 here. This is the next short position, but whether it can break here depends on whether it will reverse more in 1 hour. Because it fell too much in the past two days, the small cycle needs to rebound and then go down again. As for whether it can go down, no one knows. At present, we see that this 63000 position is very critical. In the next two days, Bitcoin will most likely go sideways and oscillate. Only when it goes in the opposite direction can we know whether it is ready to reverse or continue to go short. (If you don’t understand the market, try not to do altcoins)
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