The recent lows of Bitcoin are getting lower and lower, and the rebound strength is getting lower and lower. The upper pressure is still at $60,000, and the heavy pressure is at $62,800. The lower support is at $54,000. If it falls below, pay attention to the 50,000 mark. For Ethereum, pay attention to the pressure level of 2,600 above, and the lower support is at $2,200. September is difficult at the beginning, and it is normal for both long and short to kill. There will be a market around the day when the non-agricultural data is released. Wait patiently! It is not easy to do it at the beginning of September, but it will get better and better later. As for the cottage, you have to wait. The market is not good these days, and it is not the time to buy the bottom. The direction will be revealed in a few days!
Don’t ask if there will be another bull market. Believe it first! Every bull market starts out of desperation.
Before a big bull market arrives, the market often experiences a period of intense clean-up, which is often accompanied by the liquidation of highly leveraged positions.
Take 2021 as an example. Before the 312 incident, the market cleared almost all long leverage through a large-scale liquidation. On that day, almost all those who used leverage to go long suffered a liquidation, and even some short sellers were swallowed up by market fluctuations when trying to buy at the bottom.
In the end, only those determined shorts, those professional short sellers, were not shaken by market fluctuations. But even so, they were not spared from the continued rise of the market after 312. Looking back, on the eve of the bull market in 2017, the entire cryptocurrency circle was almost dominated by Chinese people. However, after the 94 incident, not only was the amount of liquidation huge, but even domestic exchanges were forced to close, and many people holding spot stocks also chose to liquidate and cash out. After they sold all their chips, they couldn't even find a place to buy them again.
But just two months after the 94 incident, Bitcoin and other altcoins began to soar, with the price of Bitcoin directly reaching nearly $20,000.
Therefore, the more violent the market clean-up, the more violent the subsequent rise will often be! #BTC
