Crypto market analysis 8.11 weekend cottage prologue opens, panic or madness

The market recession theory triggered the global market collapse. Bitcoin and some strong cottages repaired the decline trend, and the market started a new wave of reversal.

Market volatility and the degree of stock market sell-off have eased, and the bottom big players have also increased their chips. This round of market has confirmed the bottom, but the future bull market will come or the prelude to the bull market, and the roller coaster will be the norm.

JPMorgan Chase still predicts that the possibility of a soft landing will be relatively low, and economic recession is still the most likely outcome of the US economy. However, from the perspective of the market's chips, Morgan Stanley's chips this time are not enough. In the future, there may be a situation of intimidating the market, and then cheating chips, but at the same time, the most important thing to pay attention to in the future is the certain impact of geopolitics, housing, deficits, spending, quantitative tightening, elections and other issues on the market.

Daily level market

Daily level: Daily level news and macroeconomics rebounded after a rapid decline, and the rebound was relatively large. The first upper pressure position was around 63,000, the second pressure position was around 65,000, and the larger support position was around 59,500. If it cannot break through, it will depend on the small-level correction.

4-hour level market

4-hour level: The market rebounded to form an upward trend, successfully breaking through the 60,000 mark, and the support resistance was converted. The upper pressure was around 61,500 and 62,200, and the bottom support was around 59,500.

Intraday level analysis

The recent sharp drop in Bitcoin is normal, mainly due to the uncertainty of American politics. As well as the current economic instability, there may be a risk of a hard landing on the news at any time. The current sharp drop and surge are normal. Just keep yourself alive, and don't worry too much about other things.

 Intraday shock bullish: intraday upward trend, continuous pressure from above, the latest pressure is around 62000 and 62800, the bottom retracement can choose the support position to be bullish, the support position is around 60500-60700.

The spot market needs to safely pass through this difficult moment in the history of encryption and remain calm. #BTC走势分析 #美联储何时降息？