5.2 Morning Bitcoin Market Outlook



Good morning everyone! During the Labor Day holiday, I also want to share the morning market outlook for Bitcoin with you.

Previously, a strong rebound broke through the downtrend line, reaching a high of around 78,878. Now it has entered a high-level consolidation and correction phase. Although the short-term bulls are dominant, the overall bearish trend has not yet reversed. The negative impact of the Federal Reserve delaying interest rate cuts is still present, and selling pressure above has not been fully digested. The risk of chasing longs is high. Today, the main strategy is to short on rebounds and buy lightly at low levels for quick tests.

Trading suggestions:
Short in the rebound zone of 78,300-78,800, with the first target at 77,600. If broken, continue to look down to 77,100 → 76,600.
BTC1.36%
ETH0.65%
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