# Market analysis on August 1
Tonight's Fed unemployment benefits exceeded expectations. The market fully defines that the Fed will cut interest rates three times in 2024. US stocks are going down, and Coinbase stocks are also going down
Bitcoin once again broke through MA120 MA140 in the early morning of August 1, and under the stimulation of good news tonight, it still did not stabilize and fell further. The market began to go bearish
From the perspective of short-selling potential, the one-hour level line, the early morning decline occurred at 3-4 o'clock, and the selling range was 2000-3000 big cakes
The two big negative lines in the evening appeared at 10-11 o'clock, which was ahead of schedule. Affected by emotions, if the downward trend is maintained tonight
Then the Asian period tomorrow will continue to fall
70,000 is a short-term, insurmountable threshold in August, but there is unlimited space to go down! ! !
