Basically, the current trend of BTC is inseparable from the U.S. stock market. On the 8/8th, U.S. unemployment benefits applications dropped the most this year. The lower than expected rate caused the U.S. stock market to rebound rapidly. Doubts about the U.S. recession have weakened, and BTC has also rebounded significantly and returned to the previous downward trend. Line (orange in Figure 1), I think whether BTC can stand firm and continue to rise is related to the short-term trend of the U.S. stock market! I think the U.S. stock market is in the fourth wave correction wave of the main rising wave! Watch when the correction is completed!
