Market Analysis $BTC September 5, 2024 morning
Last night, this rally was quite strong, flying straight from 56187 to 58519, an increase of about $2500. Most of those who were still pursuing short positions last night were defeated. When the secondary market is lax in vigilance, it is easy to be "ambushed" by large investors, so it is still useful to make a judgment about the trend before trading!
Track $BTC
Support: 56700/56100/55300
Resistance: temporary 59150-59500
The key point now is definitely last night's high of 58500. There are some small non-agricultural data tonight, last night's rally can be seen as a rejection by large investors of the re-run of the August 5 slowdown. Currently, the bottom divergence signal has appeared on the 2-hour frame, the 4-hour frame has not yet shown the standard, while the 15-minute and 1-hour frames are currently in an uptrend, retesting the effectiveness of the uptrend!
On trading: Pay attention to the two super short-term support levels at the left shoulder of 57700 and the neck level of 56850; Regular investment is something that cannot be stopped, while the medium-term waves have continuously reminded those who have not entered the bottom position to enter. During the day, it is possible to retain a part of the position to preserve capital, but it is not recommended to enter the entire capital!
