In the past few days, many people have cried. Black Friday, key support levels are continuously broken, many people's positions are blown up repeatedly. Every once in a while, such scenes always appear, we call it a cycle! Plummeting, soaring, liquidation, and sudden wealth, it’s always a back-and-forth. It’s inescapable, unavoidable. Unless one jumps out of the crypto circle, not participating in contracts.
In these days, Trump has been troubled by national debt. No matter what, all kinds of methods are forcing Powell to cut interest rates. The non-farm data is below expectations, whether the data is intentionally modified or truly so. Now the ball is being kicked to the Federal Reserve. Interest rate cuts will definitely happen, just uncertain if it will be in September or October, and a surge will certainly come again, but it depends on whether we can hold on.
Currently, from the daily level perspective, BTC has broken the lifeline with high volume, capital is fleeing, the pattern is indeed not looking good. If we can't recover by the end of the period, we may need to rebound and cut losses. The trend has changed, we cannot stubbornly hold on. Currently, the strong support from previous highs and the trend line support is around 112,000, and it has not broken down; the upward structure will not be damaged. If it breaks down with high volume and cannot recover, we can only admit that the bull market is coming to an end.
The hourly level is awkward, to be honest, there hasn’t been a stop loss signal according to the pin rule; although MACD has golden crosses, the rebound volume is insufficient. My personal suggestion is, if you seek stability, just lay flat and watch without moving. For the aggressive ones, go long at 113,000 with a stop loss at 112,500. At the weekly level, the bullish trend has not been broken; from the perspective of retracing high points and depth, it has already reached a position. Currently, MACD has a dead cross, which indeed indicates a need for correction, but from the perspective of interest rate cut expectations, I personally feel that the operators will not let the bull market end so hastily.
For altcoins, I suggest to accumulate in batches on the retrace. The weekend is the performance time for altcoins; surges and drops coexist with opportunities and risks, it all depends on whether you can seize them! The above content is purely personal opinion, for reference only, do not blame for right or wrong, if you like, please follow and keep up, thank you!