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Bitcoin breaks through 63,000, how will the next wave of market develop?

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The ups and downs of the market are always unexpected. The Federal Reserve just announced a 50 basis point interest rate cut, and Bitcoin rose in response, breaking through 63,000, but many people still don't take this rise seriously. People always look for patterns between market ups and downs, thinking that "good news is bad news", but the market often goes the other way. Whether the current increase will continue or will plunge sharply in the next few days has become the focus of discussion. Many people predict that there will be a big drop, but the reality may not be as they think.

Despite this, this rise did not trigger a large-scale influx of off-market funds. The emotional release after the Fed's interest rate cut has not yet fully fermented, and the 65,000 position has become a key resistance level. The market shock may continue for a while, but this is also a good time for bankers to lure leeks. They are looking forward to a crazy rise, and with the help of the interest rate cut, they have stimulated the greed of the market and induced investors to take over at high positions. Greed is the biggest enemy of leeks, and bankers take advantage of human weaknesses to reap them again and again.

In fact, the good and bad news in the market are often just gimmicks created by the market makers. Over the years, we have witnessed too many such operations: good news quickly turns to bad news, and the market falls into shock. Many people are confused by the illusion of the market, thinking that every rise is a new opportunity, until they realize that it is just a means for the market makers to raise the price to sell. Every rise is to stimulate the greed of the leeks, so that they chase the rise at a high level, and when the market really rises, they realize that they have missed the best opportunity to enter the market.

In this situation, market sentiment becomes the real indicator. The market makers will suppress the market when the investors are most optimistic, and when everyone thinks the market is at the bottom, it is their chance to quietly buy. As people say, "Buy when no one cares, sell when everyone is talking". When retail investors treat the remaining market as a full banquet, the main players are already ready to overturn the table, and the violent fluctuations of the market will follow.

In the short term, the ups and downs of the market may be difficult to predict, and the positive sentiment brought by the interest rate cut has not yet fully manifested. Whether it will directly break through 65,000 is still in doubt, but looking back at the historical trend, we can see that Bitcoin has completed three waves of shocks. Will it break the traditional callback law and continue to rise this time? The next few days may be a turning point in the market. Whether it rises or falls, it will be unexpected.

My personal opinion is that the interest rate cut brings long-term benefits, but the short-term market still needs to face liquidity problems and the need for market makers to clean up the market. Many people are bullish, while others are bearish. There are always various opposing views in the market. However, no matter how the short-term fluctuations are, once the real bull market starts, there will be no opportunity for retail investors to get on board.

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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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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