$BTC Rate-hike expectations weigh on the market—BTC breaks below 79,000, and today’s rebound is a chance to go short!
Yesterday’s market recap. On September 7, BTC opened above 80,000, topped at 80,800, then slid steadily downward. The low was 78,671, and it closed around 78,800—down 1.1% for the day. This isn’t a sudden crash; it’s more like a slow grind lower. In the past 24 hours alone, over 60,000 people across the market were liquidated, and the longs were shaken out badly. The core reason is that the probability of a Federal Reserve rate hike in September has reached 58.4%, and the market’s risk appetite has dropped directly as a result.
Market price action and fund flows. Technically, BTC has already broken below the 79,000 psychological level. The 4-hour chart has formed a downtrend, and the short-term moving averages have all turned downward. Trading volume hasn’t expanded dramatically, but sell orders are clearly more aggressive than buys. Each rebound gets capped and pushed back down. Also, the macro environment isn’t good right now: oil prices have surged to around $92, inflation pressure is still there, and the Fed doesn’t dare to cut rates. In this environment, it’s hard for BTC to have a big move.
Today’s trading plan. Overall, I’m bearish today. Rebounds are opportunities to short. Key resistance is 79,500–80,000. If the rebound reaches this zone, you can try a small short position; set a stop loss at 80,500. First target is 78,000—if it breaks, then look at 77,000. Support is 78,000–78,500. If this range can hold, you could go for a small long scalp/rebound trade—but keep it light and move fast, since it’s only for a quick entry and exit. The key focus is whether 78,000 can be defended; if it can’t, selling will likely accelerate into a further drop.
Yesterday’s market recap. On September 7, BTC opened above 80,000, topped at 80,800, then slid steadily downward. The low was 78,671, and it closed around 78,800—down 1.1% for the day. This isn’t a sudden crash; it’s more like a slow grind lower. In the past 24 hours alone, over 60,000 people across the market were liquidated, and the longs were shaken out badly. The core reason is that the probability of a Federal Reserve rate hike in September has reached 58.4%, and the market’s risk appetite has dropped directly as a result.
Market price action and fund flows. Technically, BTC has already broken below the 79,000 psychological level. The 4-hour chart has formed a downtrend, and the short-term moving averages have all turned downward. Trading volume hasn’t expanded dramatically, but sell orders are clearly more aggressive than buys. Each rebound gets capped and pushed back down. Also, the macro environment isn’t good right now: oil prices have surged to around $92, inflation pressure is still there, and the Fed doesn’t dare to cut rates. In this environment, it’s hard for BTC to have a big move.
Today’s trading plan. Overall, I’m bearish today. Rebounds are opportunities to short. Key resistance is 79,500–80,000. If the rebound reaches this zone, you can try a small short position; set a stop loss at 80,500. First target is 78,000—if it breaks, then look at 77,000. Support is 78,000–78,500. If this range can hold, you could go for a small long scalp/rebound trade—but keep it light and move fast, since it’s only for a quick entry and exit. The key focus is whether 78,000 can be defended; if it can’t, selling will likely accelerate into a further drop.
