Bitcoin breaks through 60,000! Can it maintain its foothold?
Yesterday, people were still worried about whether there would be a "Black Friday" market. As a result, after the opening of the U.S. stock market, it performed well and rose slightly. BTC took this opportunity to directly take the intraday pressure level of 59,700. After the U.S. stock market closed, it took the 60,000 mark in one go. It is currently consolidating around 60,500.
As long as the U.S. stock market does not fall, Bitcoin will naturally not be so outrageous as to fall alone. Since the launch of Bitcoin ETF on the U.S. stock market, Bitcoin's trend has been completely led by the U.S. stock market. Every move of the Federal Reserve affects the U.S. stock market and thus affects the global currency market of BTC. The Americans have also added another tool to harvest the world.
The real resistance above is around 62,800. When this position is broken and stabilized, it will truly start a major counterattack at the daily level and lead the crypto market to rise again.
Market analysis summary:
The overall market situation is currently in a state of oscillation, but at the beginning of September, I believe everyone has seen that the market is not particularly good, and a recent wave of increases is inevitable.
However, after this wave of growth, the market will most likely continue to fall, so we need to pay more attention to risks!
The Federal Reserve will cut interest rates by 25 basis points next week on September 18.
1. Inflation has declined
2. Non-agricultural employment has increased
3. CPI is also in line with expectations
This shows that the US economy is still strong. In order to further boost the economy, stimulate consumption and expand employment, interest rates will inevitably be cut in September. However, in the absence of a recession, the probability of a direct 50 basis point rate cut is relatively small. Therefore, the first rate cut is likely to be 25 basis points.
False breakthrough, a signal to trick retail investors into getting on board?
Is it a rebound or a reversal? It doesn’t matter. It is important to think about a few questions:
1. If it is a reversal, is the position large enough? If it is not large enough or close to an empty position, how to get on board and at what position to intervene?
2. If it is just a rebound, in the market that is pulling back and forth, should you sell the chips in your hand that are at a relatively low level?
3. The current market is very unfriendly to short-term players, so would it be a better choice to expand the space and time?
4. If you decide to start selling your chips in the crazy bull market next year
Now many high-quality underlying assets have a very high cost-performance ratio. Don’t easily consider whether they will fall or how much they can rise in the short term. Even if a deal has a very high cost-performance ratio, it will definitely be higher than the current price at this time next year. As for how much higher? How much can you earn?
It depends on the underlying assets you select. For example, when the BTC price is $58,000 today, if it was $26,000 or $28,000 last year, would it make sense to enter the market? Would you still care?
5. You must have your own reasonable position management plan, and know clearly how much you want to earn in this round? How to roll positions? How to change positions? Instead of buying everything you see?
