On August 6, 2024, Bitcoin market analysis showed that the market as a whole was in the short side area of ​​the large cycle. At present, the one-hour chart of Bitcoin has entered the end of the fifth wave of downward trend, indicating that the downward momentum has slowed down. It is expected to fluctuate and consolidate in the range of 50496.4 to 56305.6 in the short term. If the price falls below the support level of 53540, the profit space will be limited and it may slide further to 52149.8 or even 50496.4. It is worth noting that if the price falls to 52149.8 and does not set a new low, it may imply that the bulls have risen in the downward trend and there is a chance to buy at the bottom. #美国政府转移BTC #BTC走势分析 #美联储何时降息？ #美国大选如何影响加密产业？ #加密市场急跌

Next, pay close attention to the small cycle chart to capture the market reversal signal. The initial reversal target can be set at around 56,300, but it should be noted that the profit margin of this round of operations may be relatively limited. In short, after the sharp drop on Monday, the Bitcoin market is entering a shock repair phase, and we need to wait patiently for the market to adjust. $BTC $ETH $BNB