Crypto market analysis 8.9 Hard landing failed, unemployment benefits saved the market, interest rate cut by 50 basis points

        The market recession theory triggered the global market collapse. Bitcoin and some strong copycats repaired the decline trend, and the market started a new reversal.  

        The number of people receiving unemployment benefits has decreased. Everyone is a little panicked about the market recession theory. Now the market is starting to recover. The US stock market, Asian stock market and cryptocurrencies have adjusted their emotions. If the risk of recession is reduced, the possibility of a hard landing is not great. The market will continue to follow the trend. The market is still optimistic in late August.

        The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 43.5%, and the probability of cutting interest rates by 50 basis points is 56.55%. The market has begun to be affected by this recession and sharp drop. The interest rate cut in September and the subsequent market trend are optimistic.

Daily level market

· Daily level:   Daily level news and macroeconomics rebounded after a rapid decline, and the rebound was relatively large. The first upper pressure position was around 63,000, and the second pressure position was around 65,000. If it cannot break through, it will depend on the small-level correction.

4-hour level market· 4-hour level: The market rebounded to form an upward trend, successfully breaking through the 60,000 mark, and the support resistance conversion. The upper pressure was around 62,800, and the bottom support was around 60,500.

Intraday level analysis

The recent sharp drop in Bitcoin is normal, mainly due to the uncertainty of American politics. As well as the current economic instability, there may be a risk of a hard landing on the news at any time. The current sharp drop and surge are normal. Just keep yourself alive, and don't worry too much about other things.

The current economy has a certain risk of recession and the after-effects of interest rate cuts, which are reflected in the sharp drop and surge that may occur at any time. The time of bursting will occur frequently, and this is the bull market.

· Intraday: Intraday upward trend, continuous pressure from above, the recent pressure is around 61800 and 62800. If the bottom falls back, you can choose the support position to look long, and the support position is around 60500.

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