Today's market insights: Be cautious in bottom-fishing, keep a close eye on key points
The market sentiment is subtle, and the bottom-fishing voices are heard before the correction is deep, which is really a joke in the market🤡. Here, I would like to share my personal opinion:
Bitcoin failed to hit the 65,000 mark twice and fell instead. Its trend has revealed fatigue. At present, we need to pay special attention to several key support levels, which will be the touchstone of market sentiment.
First, the one-hour technical break is not only a false breakthrough of the triangle pattern, but also directly breaks through the bottom line of support. The next focus will naturally fall on the 62,800-62,900 range, which is an important line of defense connecting the "golden waterway" from 57,000 to 65,000. Whether the bulls can hold their ground here is worth close observation.
Furthermore, if this line of defense is lost, our eyes need to move to the deeper 61,500, where there is another solid bull fortress connecting the vast range of 48,000 to 65,000. But please remember that once 61500 is lost, the road to rebound may be bumpy and difficult, and returning to the 5-digit area may be a foregone conclusion. 54000, as the previous low point, may usher in a strong rebound attempt.
However, the road to rebound is never smooth. Even if the Fed's interest rate cut timetable is settled, the market cannot escape the fate of volatility. Although there is a pull-up, the "Heaven and Earth Needle"-style extreme market conditions are still like a shadow, which is the norm of the dealer's game. Therefore, do not easily believe that the market will be smooth sailing. The turbulent waves in the currency circle are the breeding ground for countless retail investors' warehouse explosion stories.
Finally, I hope that every investor can keep a clear head, not be disturbed by the outside world, and stick to their investment strategies, so that they can sit firmly on the Diaoyutai in this turbulent market.
