Can Bitcoin return to 65,000? Judging from the current market situation, Bitcoin may fluctuate between 62,500 and 64,500 in the short term. In recent days, the daily chart has been sideways for a long time, and September is almost over.
Yesterday, the market tried to break through 65,000 again, but failed, which shows that the resistance above is getting bigger and bigger. The trend in the next few days will be crucial. I hope there will be a real change in the market and bring new opportunities.
It is rare to see such a big lineup from the Federal Reserve: the Fed Chairman, five board members, and Treasury Secretary Janet Yellen make a total of seven people, more than a basketball team, with just enough offensive and defensive teams, and two substitutes. It can also be seen that the Federal Reserve and the Treasury Department attach great importance to communicating with the market after the first rate cut.
Especially now that the market is in the process of re-anchoring after the interest rate cut, and then begins to look forward to the rhythm of subsequent interest rate cuts. The main statement may be to appease the market's worried mentality and give certain expectations but not overly raise expectations. It depends on whether anyone here will come out to pour cold water
There have been subtle changes in the copycat market
At that time, MEME's market value was still not high after several hundred times, and the average was only 300 to 500 sols. From September to now, Hippo, Penguin, Mars City, etc. have all exceeded 100 million in market value.
Participating in these MEMEs, the wild atmosphere can really make dopamine flow from the Baihui acupoint to the Yongquan acupoint. Within 24 hours, you can see the hundreds of times of ups and downs again and again, which is exciting and thrilling.
Everyone can realize that this is a morbid carnival, but they have no choice but to participate in it. The average decline of logical and reasonable things is about the same as MEME, and the ones that have risen the most are not as good as MEME. So who can be reasonable?
Return to value
I think the three market crashes in July, August and early September have formed the bottom for many cottage industries, and they are basically in the bottom range.
Don’t be afraid of short-term risks at this time. You should increase your positions when necessary. Even if the market falls back again in the short term, the bottom range that has been tested for 3 months is unlikely to be broken, or the downward space is very limited.
The following example chart shows that many cottage industries are basically like this, or gradually decrease in July, August and September, but the decline rate is sharply reduced, which are all signs of bottoming out.
As for whether it will fall back again in the short term, or hit a gold pit and come back, these are unpredictable.
After getting on the train, you should have psychological expectations. Don’t be afraid if the stock price really drops. In many cases, selling at the bottom is exactly what the dealer wants.
However, what is certain is that the bull market is really coming, the trend has started to pull up, and the current position must be the bottom range of the next big trend. In the future, these ups and downs of the K-line will only be a horizontal line.
Finally, the king of the cryptocurrency world—CZ is about to return
Last week, according to the U.S. Bureau of Prisons website, CZ, who had been in prison for nearly four months, would be released on September 29. The latest news shows that CZ has left the prison after 118 days in Lompoc Prison No. 2 and has been transferred to the Reentry Management Office RRM Long Beach. He is currently in custody.
After all, the current relatively sluggish market really needs a shot in the arm
On the other hand, in any case, CZ's return is still a great boon to Binance, and it will also have a positive effect on boosting user sentiment. It is highly likely that Binance's series of currencies will see a rise, and some people in the market have begun to focus on the so-called concept of CZ's release from prison. This shows that even if the market is no longer the same market, CZ is still the same CZ.
