BTC market will be more stable now, because Bao said in his speech last night that basically there will be no more interest rate hikes. This news has given the market a certain confidence, and it is difficult to see an accelerated decline again. So if the market continues to fall, theoretically, it can be considered to continue in the range of 56,000-57,000!
The continuous decline in the previous period is that everyone is uncertain about the future. I analyzed several reasons. If there is anything wrong, please comment in the comment area
The first point is that Bao said that there will be no interest rate hikes in the short term
The second point is that the unemployment rate will reach 4% before considering a rate cut. Then this news is equivalent to a reassurance for the market! Then the rise and fall of US stocks are also relatively repeated. There is no previous unilateral decline. The entire market is gradually stabilizing, and buying has begun to intervene in the range of 56,000-58,000!
Third, when buying intervenes in the market, the momentum for another sharp bottoming out is not that strong. So now, the pullback is an opportunity to do double. At least in the short term, I will not look at the position below 52,000. In the next two days, you can choose the direction of double on dips!
So strong support can refer to 56,500-57,500, or the position near 57,000, if the US stock market is more cooperative.
If the oscillation in the range of 57,000-58,000 tonight does not continue, there is a chance to rush to 60,000 in the next two days! Having said so much, it means that you can gradually find the bottom to rebound in the next two days, and do more on dips! For your reference!
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