Emergency warning! Bitcoin has repeatedly hit $65,000 but failed, and the reversal signal may be approaching.
The current capital flow is weakening, which clearly shows that the bulls are not as strong as the bears.
This situation will lead to a large number of short positions being closed, and a large negative line will appear in time, breaking the key support level of 60,000-61,000 in one fell swoop.
Many people may find it hard to believe, but observing the market trend after the recent interest rate cut, it is not difficult to find that prices are hovering in the range of 64,000-64,800.
The market often rises to important resistance levels after a small drop, making investors hesitant even if they know the risks, afraid of both missing out and falling deeply.
Human nature: hesitant at low levels, more cautious at rebounds, even at the current resistance level, there are still few entrants.
The current market generally expects Bitcoin to fall below 40,000 before bottoming out, but I personally think that Bitcoin starting with 50,000 is history.
Recently, Bitcoin has frequently changed hands at resistance levels, but the market has not ended, suggesting that large funds are quietly deploying around 62,000. In addition, the Fed's interest rate cut and the approaching US election have brought significant benefits to the market.
The deep-rooted bearish thinking actually stems from the main force's repeated testing of the psychological bottom line. Bitcoin has not risen, but the altcoins are leading the trend, which are all market illusions. The current market is significantly divided, and the views of all parties are different.
Imagine that financial giants such as BlackRock would just buy blindly if they really encountered a bear market? Their capital operation emphasizes timeliness, which is very different from Buffett's long-term investment philosophy.
Recently, the bearish argument has been rampant, but September is about to end and the monthly line is about to close. I firmly believe that waiting will eventually make the value currency more precious.
Seize the opportunity in September and lay out high-quality currencies. I have invested all my efforts. No matter what you choose, I will follow the pace of the main force and enjoy the feast of the fish belly market between September and October, and welcome the harvest and joy of 2024.
