Market Analysis 9.3
Good morning, brothers. The market has been falling for the past two days.
Many brothers woke up in the morning and asked if it would fall to 40,000.
Some group members began to lose hope.
Many analysts drew K-lines and said some ambiguous words.
But our analysis is very clear:
Don’t sell at the bottom. It is difficult to fall below 57,000 because there is strong support.
Today, many brothers started to shout that the bull market has returned.
This year, you shouted more than 100 times, more than 50 times, and more than 80 times, run away after the collapse.
Current bullish factors:
(1) Currently, BTC computing power is at a low point, and miners are not making much money, indicating that the market is close to the bottom.
(2) The last halving cycle started to soar in the fourth quarter. Will it start to rise in the fourth quarter this time?
(3) Long-term holders (wallets that have held for more than six months) continue to accumulate Bitcoin at record levels. Their total balance hit a monthly high of 391,000 BTC this week.
(4) Interest rate cuts and water releases are imminent, and there will be more funds in the market.
Current bearish factors:
(1) The last time Mentougou sold over 80,000 BTC, it continued to cause selling pressure, and there are still over 30,000 that have not been released
(2) The Israeli-Palestinian peace talks broke down, and Iran's involvement caused a wider range of conflicts
The general trend is bullish, but bearish factors still exist
So don't sell at a loss when the price drops, and chase high when the price rises, and don't add positions
It is recommended to hold a 50% position
