After 20 days, the price of Bitcoin has reached above $60,000 again. Just yesterday, the US spot Bitcoin ETF had a net inflow of $186.74 million. The large inflow of ETFs laid the foundation for Bitcoin to stand above $60,000.
From the daily level, Bitcoin's daily level K-line on September 9th closed above the daily level 5 10MA, confirming the short-term daily level rebound trend, and 54591 is a strong support position at the short-term daily level. Yesterday, the daily level K-line closed above the 5 10 30MA moving average, confirming the daily level's upward trend in the short term. Therefore, as long as 57610 does not fall below in the short term, Bitcoin's upward trend will continue.
On the other hand, after Bitcoin fell to $49,000, the price hit $65,000 several times but failed to break through, so $65,000 is the pressure position of Bitcoin on the daily line. Only when the daily Bitcoin price breaks through $65,000, the price will have the opportunity to continue to move towards a new high.
Recently, Binance has listed three MEME coins$TURBO $NEIRO $1MBABYDOGE . The growth of these three coins is very impressive, but are these three coins still worth participating in? Lao Gou believes that unless you rush in on the first day of the coin's launch, there is no need to participate today. First of all, these three coins are not new coins, nor are they the first to be listed on Binance. Some of them are the product of the previous bull market, and there are many locked-in orders on them. Even at the peak of the bull market, its growth rate is at most mediocre and not too impressive. Secondly, according to my personal observation, as long as the coin is listed on Binance, it is basically at its peak. The price will basically start to fall after two days of rising and experience a long wash. The second is the time of listing. This time, Binance has listed three MEME coin concepts at once. Recalling SHIB back then, it was basically listed on Binance at the last minute, and the price began to fall a few days after it was listed. Finally, after half a year of wash-out, with the arrival of the peak bull market, the price began to rebound and finally broke through a new high. Therefore, friends who want to enter the market today are advised to avoid risks. If you can accept being trapped for a long time, you can ignore what I say.
The probability of the Federal Reserve cutting interest rates by 50 basis points this month has increased again, which is one of the reasons for the market rebound. There is not much other news. But everyone should understand the principle that ducks know when the water in the river is warm in spring. If the future market is not optimistic, it will not be good news but bad news, and the market will not see a general rise. Bitcoin has been consolidating for about half a year away from its new high, and the current market may be on the way to creating another new high. Seize the last opportunity and wait for the peak bull market to come.
