7.3 Morning Bitcoin Strategy Analysis


Last night's US employment data was not good, and the market expects interest rate cuts, causing the US dollar to decline.
When the dollar falls, digital currencies like Bitcoin tend to rise. Bitcoin has dropped too much in the past few days, and now funds are entering to push up the price, with the overall short-term trend being bullish.
Although large institutions are reducing their positions in the long term and a super bull market won't happen overnight, the short-term upward trend is not over yet. Any pullback is a buying opportunity.

Retrace to 60800-61000 to go long, target 62000.
60000 is the key bottom line. If the price convincingly breaks below this level, it means the upward trend is completely over, and all long positions should be closed.

Risk reminder: This is only my personal market view and does not constitute investment advice!
$BTC
BTC0.28%
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