Affected by the US August non-farm payrolls data, which led to the market's growing concerns about the US economic recession, Bitcoin plummeted from around $57,000 on Friday, and fell as low as $52,550 on the 7th, hitting a new low since August 5. However, after 6 a.m. today, Bitcoin began to fluctuate upward at $54,400, and was quoted at $55,223 as of the time of writing, up 1.46% in the past 24 hours.

In the past 24 hours, driven by the rise of Bitcoin, the total amount of cryptocurrency contracts liquidated reached 101 million US dollars, of which short positions liquidated 76.3 million US dollars accounted for the majority, and a total of more than 29,000 people were liquidated.

Bitcoin four-hour chart
　
First, according to the Bollinger Bands indicator in the Bitcoin 4H level chart, the current price of Bitcoin is close to the middle track. If it can effectively break through the middle track and stabilize, the market may sprint to the upper track. This shows that the market is in a dynamic adjustment period. The upper and lower tracks of the Bollinger Bands spread outward, indicating that the subsequent market volatility will increase.

Subsequently, according to the KDJ indicator in the Bitcoin 4H level chart, the K line value and the D line value were both above 70, and the J line value exceeded 90, indicating that the market was in the overbought area, which means there will be a risk of a pullback in the short term.
　
Secondly, according to the MACD indicator in the Bitcoin 4H chart, the DIF and DEA lines start to turn upward below the 0 axis, which indicates that the market sentiment is turning from short to long. At the same time, although the green bar chart of MACD is still below the 0 axis, it is gradually shortening, indicating that the downward force of the short trend is gradually weakening. This may be a signal that the market is about to reverse.
　
Finally, according to the RSI indicator in the Bitcoin 4H level chart, the RSI value is around 50, indicating that the buying and selling forces in the market are relatively balanced, and there are no obvious overbought or oversold signals. However, RSI rebounded from the oversold area earlier, indicating that the buying power has increased, but whether it can continue remains to be seen.
　
Bitcoin one-hour chart
　
First, according to the Bollinger Band indicator in the Bitcoin 1H chart, the current price is close to the upper track of the Bollinger Band. This phenomenon usually indicates that the market is accumulating upward momentum, but the lower shadow has appeared in the price trend, which means that the market will encounter certain resistance in the short term. If the price is blocked here, it may fall back to the middle track of the Bollinger Band. The upper and lower tracks of the Bollinger Band are gradually expanding, indicating that market volatility is increasing. If the price can successfully break through the upper track, it may rise further.
　
Subsequently, according to the KDJ indicator in the Bitcoin 1H level chart, the K-line value and the D-line value are close to 70, and the J-line value has exceeded 80, indicating that the market is currently in an overbought state, and there may be pressure for a correction, and the price may be adjusted downward to digest the high pressure.
　
Secondly, according to the MACD indicator in the Bitcoin 1H level chart, the DIF line approaches the DEA line downward and forms a dead cross, indicating that the price will be corrected in the short term, and the MACD histogram is red, indicating that the upward momentum still exists in the short term. Although the MACD histogram is still red, showing that the upward momentum still exists, the red histogram has begun to gradually shorten, indicating that the bullish momentum has weakened.
　
Finally, according to the RSI indicator in the Bitcoin 1H chart, the RSI value is currently above 60, close to the overbought zone, indicating that the market has strong buying in the short term. However, this also means that the market may face a certain risk of a correction in the short term.

According to comprehensive analysis, Bitcoin is currently in a short-term rebound phase, but the upward momentum may face resistance. KDJ shows overbought risk, and the price may have a short-term correction. MACD shows that the downward momentum is weakening, and a buy signal may be formed soon. BOLL shows that the market is volatile, and if the price can break through the middle track, it is expected to rise further. RSI shows that the market is still in a relatively neutral position, and the future trend may need to wait for clearer signals.
　
In summary, the following suggestions are given for reference
　
Bitcoin rebounds to around 55700 and goes short, with a target of 54500-53600 and a defense of 56200.

It is better to give you a correct idea and trend than to give you a 100% accurate suggestion. After all, it is better to teach a man to fish than to give him a fish. Suggestions can make money for a while, but ideas can make money for a lifetime! What I focus on is the idea, the grasp of the trend, the layout of the market and the position planning. All I can do is to use my practical experience to help you so that your investment decisions and business management will be on the right track.
　　
Writing time: (2024-09-09, 20:40)
　　　　
(Text - Daxian Shuobi) Hereby declare: There is a delay in online release, and the above suggestions are for reference only. The author is committed to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks. He has been involved in the financial market for many years and has rich experience in real-time operations. Investments are risky, and you need to be cautious when entering the market. For more real-time market analysis, please pay attention to Daxian Shuobi, a Chonghao account, to discuss and communicate together. $BTC