Will the market continue to fall? Where is the bottom?
BTC and ETH have already reached the first target levels previously mentioned: $112,000 and $4,050, respectively. The second target of 105,800 and 3,830 dollars is also very close! At present, there should be a rebound when it reaches the first target level, although the height of the rebound may not be very good. The current situation has actually been discussed at the beginning of the month: the expectation of an interest rate cut in September has been hyped up in advance, and Bitcoin has continuously broken new highs. However, there hasn't been a real interest rate cut yet, so there is still too little money in the market. First, it is impossible to support a continuous rise; second, it is impossible to support the rise of most cryptocurrencies, only a few quality coins have risen significantly. Although it was mentioned yesterday that the foundation of the bull market is still there, a deep squat washout is unavoidable. Otherwise, if interest rates are really lowered later, and market liquidity becomes sufficient, the main players will not be able to pull such a heavy load. Where is the bottom? For BTC and ETH, the bottom is first looking at the second target mentioned on Monday, which is $105,800 and $3,830; as for the third target: falling below $100,000 (around $95,000) and $3,500, the current probability has increased to 50%; altcoins can be multiplied by 2-3 times the decline of ETH. In the end, it's still that saying: the more it falls, the more it tests everyone's courage to buy the dip!
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Will the market continue to fall? Where is the bottom?
BTC and ETH have already reached the first target levels previously mentioned: $112,000 and $4,050, respectively.
The second target of 105,800 and 3,830 dollars is also very close!
At present, there should be a rebound when it reaches the first target level, although the height of the rebound may not be very good.
The current situation has actually been discussed at the beginning of the month: the expectation of an interest rate cut in September has been hyped up in advance, and Bitcoin has continuously broken new highs. However, there hasn't been a real interest rate cut yet, so there is still too little money in the market.
First, it is impossible to support a continuous rise; second, it is impossible to support the rise of most cryptocurrencies, only a few quality coins have risen significantly.
Although it was mentioned yesterday that the foundation of the bull market is still there, a deep squat washout is unavoidable. Otherwise, if interest rates are really lowered later, and market liquidity becomes sufficient, the main players will not be able to pull such a heavy load.
Where is the bottom? For BTC and ETH, the bottom is first looking at the second target mentioned on Monday, which is $105,800 and $3,830; as for the third target: falling below $100,000 (around $95,000) and $3,500, the current probability has increased to 50%; altcoins can be multiplied by 2-3 times the decline of ETH.
In the end, it's still that saying: the more it falls, the more it tests everyone's courage to buy the dip!