Is it a bullish rebound or a false breakthrough?

BTC

It broke through 70,000 on July 29, fell to 49,000 on August 5, and then rebounded to 65,000. It continued to fall and formed a double bottom structure around 53,000 on September 6. On September 19, the Federal Reserve confirmed a rate cut, and BTC rose to 66,000 now.

Two key points in the environment: one is that the current US economy is still good and there is a possibility of a soft landing. The second is that although the labor market is currently stable, it is still relatively fragile, and the Federal Reserve needs to continue to cut interest rates to keep the labor market from collapsing.

In the data of BTC purchases, the user's emotions seem to be mobilized a little, and it can be clearly felt that the purchasing power is rising. A large number of investors began to sell cautiously, and even short-term profiteers began to expect higher prices.

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