Market analysis of Bitcoin's search for bottom support

Last night's retail data exceeded market expectations, causing US stocks to rise sharply at the opening. However, like the recent CPI data, these optimistic retail data ultimately became fuel for short sellers, and stock prices gradually fell back in trading. In contrast, some pension funds continued to increase their holdings of Bitcoin ETFs, showing that they prefer long-term value investment rather than short-term speculation.

Market sentiment and strategic positioning:

Whether the economy is in recession or whether the interest rate cut policy is implemented, the main task at present is to manage market sentiment. This cautious strategy shows that the market structure is adjusting to prevent retail investors from having a favorable position that may benefit greatly in the future bull market. The best course of action at present is to maintain a cash position, because it is extremely dangerous to use leverage in such volatile market conditions.

Bitcoin technical outlook analysis:

Bitcoin recently hit a low of $56,000. Future forecasts show that Bitcoin may fall sharply to the $51,000 to $53,000 range, where the market's confirmed bottom may be formed. From the perspective of the time node, the market is unlikely to allow a new low below this range. However, if such an opportunity does arise, it may only exist for a short time window - perhaps as short as three minutes - which emphasizes the importance of investors' vigilance and quick response.

Risk Management and Misinformation:

Given that Bitcoin's current price level is much higher than in the past few cycles, risk management is particularly important. Recent reports about the US government moving Bitcoin, which was misreported as a sell-off and was actually transferred to Coinbase for custody, highlight that "FUD" (fear, uncertainty and doubt) in the market can mislead investors' judgment of market conditions. Investors are advised to stay informed and cautious to ensure that they do not react hastily to unverified information. #美国7月PPI低于预期 #美国CPI数据连续第4个月回落 $BTC $ETH $BNB