Bitcoin has been trading sideways in this range for six months since March, from a high of 73,000 to a low of 55,000.
The current price fluctuates between Fibonacci 0.618 and 0.236, and the corresponding support range is 64,300 to 55,000, of which 55,000 serves as a strong support level.
The current market situation can be described as an "eternal bull market." Although the negative factors failed to push prices downward, the positive factors also failed to significantly promote price increases, and the market's sideways fluctuations made people feel anxious. According to current data analysis, a bull market may start in October, and high-quality leading coins are expected to break out first.
The global financial market is facing the impact of multiple factors: Japan's interest rate cut, the financial crisis affecting the global market, Russia's legalized mining, new openings of European and American ETFs, German liquidation, the completion of Mentougou liquidation, and the Federal Reserve's interest rate cut expectations in September.
After three years of long waiting, the market’s highlight moment is about to arrive. It is recommended that everyone be prepared for the upcoming drama!
