Bitcoin fell below the $50,000 support line yesterday, and people were worried that it might continue to fall after the U.S. stock market opened in the evening. However, the market is always full of surprises. After 21:30 last night, Bitcoin began to rebound. The current price has risen to $55,555, and the decline in 24 hours has narrowed to about 3%.
Now the market has seen a small rebound, but this rebound may not return to the previous highs soon. We may see Bitcoin continue to fall in the short term before rebounding. Therefore, there is no need to rush into the market for the time being. If Bitcoin can fall below $52,000, it will be a good buying opportunity. Be patient and wait until then to act.
Currently, Bitcoin's upward momentum since July 20 shows a lack of strength, which may lead to a bigger decline. It is expected that it may experience an adjustment period similar to that from May to July 2021, and then the market will continue to move in the second half of the bull market. Therefore, this may be a good time to consider buying some strong Altcoin at a low level.
Several issues to consider when buy the dips:
1. Rebound target: Bitcoin (BTC) is expected to rise by at least 30% and rise above $64,000. Ethereum (ETH) aims to rise above $3,000, at least a weekly rebound, and may also set a new record high and start a new weekly main uptrend.
2. Is $49,000 the bottom? Even if $49,000 is not the absolute bottom, it is not far from the bottom. The bottom of a large market is usually more solid, and there may be a second or even a third test. If you have entered the spot at yesterday's low, it is recommended to hold steadily. For contract traders, it is recommended to stop profit in time.
3. Which coins to buy? It is recommended to focus on BTC, ETH and SOL, and at the same time allocate a small amount of strong Altcoin of ETH and SOL. Recently, Bitcoin has recorded the second largest single-day liquidation since the bull market, and ETH has recorded the largest single-day liquidation since the bull market. The more liquidations, the greater the potential opportunities.
BRC20 inscriptions:
$SATS: After nine consecutive days of decline, the decline ended yesterday and rebounded quickly after the decline, with the trading volume more than twice that of the previous day. In the short term, it may encounter the pressure of the 4-hour MA30 and EMA52 lines, and the support level is 1880.
$ORDI: When Bitcoin fell, it hit a low of 20.73. The daily MACD showed that the downward momentum was strengthened. In the short term, it was an oversold rebound and volatility was expected. The trading volume hit a new high since December 4, 2023. After a short-term adjustment, it is expected to have a good upward performance.
$RATS: Under the influence of Bitcoin's decline, the price hit a new low and then rebounded, with trading volume nearly three times that of the previous few days. After a slight adjustment, it is expected to perform well, with pressure around 10,000.
The global stock market crash has affected the crypto, which marks the end of a phase in the financial market and the formation of a new financial landscape. Don't be afraid of the crash, this is an opportunity to acquire cheap assets. Select your favorite sectors in advance, such as BTC, ETH, SOL and related DeFi, RWA, MEME, AI, GameFi and DePIN fields.
BTC is a stable asset, so it goes without saying; ETH's DeFi and RWA sectors are relatively mature, and the DePIN sector is also worth paying attention to. Other sectors can be decided based on personal judgment.
There may be great opportunities in the future. The more the market falls, the more the Fed's interest rate cut may bring about a bigger rise. The one or two-month adjustment period may be just a small case. The opportunity for Bitcoin to rise by 50% or even double by the end of the year is worth looking forward to.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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