Market Analysis
Bitcoin has been moving up and down in the channel line range. Yesterday, it hit a low of 55,600 and then rebounded by nearly 2,000 US dollars, with a high of 58,519. Today's closing pattern was good. The same pattern was also seen on July 7 and 8, after a pin-point shock below the channel line, a round of counterattack was launched, reaching a high of 70,000.
It is already September. Historical data shows that September is a quiet month with no major fluctuations, especially since the interest rate cut is expected to be implemented in September and CZ is also released in September. If the price continues to fall by 50,000-55,000, then be bold to take orders, cover positions, and increase positions. Layout in September will lead to a rainbow in October and November.
September is a critical month!
On September 6, the U.S. unemployment rate data will be released . We have to watch it carefully. Once the unemployment rate changes, the market may fluctuate again.
On September 11, there is also the US CPI data , not to mention, which is directly related to price fluctuations and is equally important.
The Federal Reserve will most likely begin a rate cut cycle on September 18 , and the news will have a great impact on market trends.
There are only a few days left before the interest rate cut. There is a high probability that cousin CZ will be released this month . Many projects were previously planned to be launched around September, so no matter whether the market will continue to fall or not, September is a time full of opportunities. Be diligent and try to seize more opportunities.
In the 10 years from 2013 to 2023, the crypto only saw a slight increase in September of 2015, 2016 and 2023, while the Septembers of the other seven years were all plunges.
However, the market basically rose in October, so the saying "Gold September and Silver October" in the crypto also exists.
Before a complete outbreak, the main force will use various methods to lure retail investors off the bus!
Just like the market these two days, the big green candle the day before yesterday was followed by a big negative line, and even broke the previous low, which made many short-term investors think that there is no hope for rising. Especially yesterday morning's low break, it made people feel that there is no bull market. This is the so-called "darkness before dawn" . Although the weekly and monthly lines show that the market trend is upward, the short-term 4-hour chart and daily chart make people feel that the market is still falling.
In the context of the big cycle, the short-term decline is just a market trap. Once a big positive green candle appears, the situation may be reversed quickly. The big green candle the day before yesterday may be a trap carefully laid by the main force to pave the way for the subsequent market trend. Next, if a big green candle appears again, retail investors may not dare to enter the market for fear of another decline. This is a common confusion in the financial market. Only through systematic learning, improving cognition and vision can we truly identify and avoid the traps of the main force.
So, although the decline in September may seem frustrating, it may also be the best time for you to buy. Pessimists will say that September will continue to fall, but optimists believe that this is the time to enter the market at a low price and prepare for the upcoming rise! You must know that with limited funds, how to choose the target and manage the position is directly related to your profit and loss ratio. This is the key. Remember, accurate selection and strategy management are the secrets to success!
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