On August 26, Bitcoin fell as expected, realizing profits.

In the article on August 24, I mentioned Powell's speech at the annual meeting of global central banks, hinting at confidence in the September rate cut. Last Friday, Bitcoin experienced an Asian session rise, and the European session continued to rise. The pullback before and after the US session was mainly to induce shorts. After breaking through 62,000, Bitcoin fell back to 61,000, and then accelerated its rise, eventually reaching around 65,000.

Last Friday, Bitcoin accelerated its rise during the US session, making up for the decline in early Thursday trading. However, when the price hit 65,000, the market's bullish sentiment also heated up again. Due to the rise and the realization of the Fed's interest rate cut expectations, the market's views on chasing the rise began to increase. I think that although it is bullish, there is no rush to chase the rise, especially when today's Asian session failed to substantially break through 65,000.

In addition, considering that the daily chart needs to be adjusted or corrected during this rise, I opened a short at the 64,000 level. Only when the Asian session rises and the European session continues, the US session is likely to continue to rise; or if the Asian session adjusts, and the European session breaks through the Asian session high and then pulls back, you can consider entering the market to do more.

In short, do not rush to chase the rise before the above conditions are met. The current trend has room for adjustment. When the Asian session falls and the European session continues, or the Asian session falls and the European session fluctuates, the US session may continue to fall. The 63,000 low and the last pullback support of 62,500 last Friday need to be paid attention to below. Once lost, further attention will be paid to 62,000 and 60,800. At the same time, before the price breaks through 64,600, it is recommended to give up chasing more to better grasp market dynamics and investment opportunities. #美联储何时降息？