2024.9.11 Market Analysis
Daily level: The market is still dominated by shocks. It is considered a rebound before breaking through 67,000. The short-term pressure level is around 59,200, the extreme pressure can be seen around 60,500, and the bottom support is around 54,800.
4-hour level: The market has not yet come out, and it is still considered a rebound. The pressure level is around 58,000 and the support level is around 55,600.
Summary: Bitcoin's recent plunge is a normal phenomenon. It rose from 25,000 to 73,000 last year. Why didn't you say anything about it for 5 months in one breath?
There are two other main reasons: one is the uncertainty of US policies. The other is the instability of the current economy, and there may be a risk of a hard landing at any time. The current sharp drop and surge are normal. Just keep yourself alive, and don't worry too much about other things. Waiting for the results of the 9.18 interest rate cut to be announced, the opportunity is coming!
