$BTC

Share the current market analysis

Weekly:

Last week, the closing line formed a shrinking positive line, forming a bullish engulfing, which is a stop-loss signal. It appeared near the important support level of the lower line of the slightly downward-sloping parallel channel, and also stepped back on the rising trend line. The effectiveness of the stop-loss signal has been enhanced, so it is likely to test the upper line of the parallel channel next.

Daily:

After the closing line stopped the decline on September 7, the price gradually rose, breaking through the pressure range before 58137 with large volume, and closed with a pregnant line on the 14th, indicating that the current market has a need for shock adjustment to break through the pressure range of the upper downward trend line. Observe whether there is a stop-loss signal after the adjustment of the support range near 58000. If there is a clear stop-loss signal, it is likely to oscillate and accumulate power in the range above 58137, and then break through the pressure of the upper short-term trend line and the pressure range of the dense trading area in one fell swoop.

Summary:

The weekly level belongs to the process of transition from the early stage of the bull market to the mid-term of the bull market. The current market is running in a slightly downward sloping parallel channel. At present, there are shrinking stop-loss signals near the important support level of the lower line of the parallel channel and the rising trend line. The volume is weaker, but it appears near several important support levels, so it can enhance the stop-loss effect, so the probability of subsequent rise is greater than the probability of fall.

After breaking through the 58137 pressure range at the daily level, it is in the adjustment market. In the future, we will observe whether the shock range can stand above 58137.

The interest rate decision was announced on the 19th. The interest rate cut is just the beginning. After the interest rate cut, when funds gradually flow into the financial market, most cottages will take action. At present, most cottages are in the process of bottoming out. The bottoming forms are different, but the signs of bottoming out are relatively obvious, and we need to continue to track the trend.