【2024-8-5 BTC Trend Analysis】
At present, the shorting force of Bitcoin is still very strong. This shorting is due to the sharp decline caused by the news that the Federal Reserve is preparing to raise interest rates in the near future. If this shorting can stand firmly at 50558.9, we can see: 45121.6, this target position is here, but it is not recommended to chase the short now, because it has fallen too much, breaking through the monthly line. As for whether it can continue to fall after falling to 45,000, it is unknown. When we wait until this target position is near, we will look at the trend to analyze (try not to do altcoins if you don’t understand the market)
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