Bitcoin will be sideways at the end of August, bottom out in September, and surge in October to start the road to wealth!
BTC has been shaking a lot at a small level recently. Although it fluctuates greatly, it feels like it is about to bottom out. Why do I say that? Because it is now squatting at the lowest point in the past half month, which is also the starting point of the ascending triangle. This position is quite strong.
In the 4-hour chart, the strength of the short side is beginning to decrease. If MACD forms a golden cross at a low level, a rebound is not a dream.
This position is quite cost-effective. The second bottoming out at the small level has reached a low point again. It looks like a trap for shorts. The second bottoming out is estimated to be over, and the probability of a new low is not high.
ETH is performing well at a small level and has been rushing up. Looking at the hourly chart, it may rush to a high point or a second high point, and then step back.
On August 24, Powell's interest rate cut directly pulled the market to 60,000 to 65,000, and short orders were blown up. As a result, it fluctuated at a high level for two days last weekend, and suddenly fell sharply in the early morning of Monday, directly hitting 58,000, and all the benefits of the interest rate cut were gone.
In this case, it is difficult to rebound quickly. After all, the big positive of the interest rate cut cannot be brought, and there will be no greater good things later, so it is not easy to return to a high level.
What do you think about the market outlook?
The currency circle has been fluctuating between 50,000 and 70,000 for a long time in the past six months. September may have a big wave and break through this range. It may be 80,000 if it goes up, and 40,000 if it goes down. If you choose the right direction in September, getting rich is not a dream; if you choose the wrong direction, you have to be careful of liquidation.
Looking at historical data, Bitcoin did not perform well in September, falling 8 times and rising 3 times, and it always plummeted. So September may continue the decline of August, find the bottom, and rebound in the middle and late part of the month, and then it will be able to raise its head in October.
Historically, October has basically been rising, and there have been 6 big rises, ranging from 25% to 35%. So, if September falls, October will rise.
Next, keep an eye on the US economic data, especially the unemployment rate on September 6 and the CPI data on September 11, which can affect the market trend. If the interest rate cut, unemployment rate, and CPI are all good, then there will be a big rise; if they are all bad, then there will be a big fall.
Finally, if you feel helpless, confused, and want to know more about the relevant knowledge and first-hand cutting-edge information of the currency circle, click on the avatar to follow me and patiently help you answer.
