Bitcoin is about to have a major correction! Can this wave of market continue? A must-read for investors!

At one point, it seemed unstoppable, and everyone was optimistic about Bitcoin breaking through 100,000, 150,000, and 200,000. However, within a few days, market sentiment took a sharp turn, and most people acted too aggressively, fearing they will ultimately be bitten back by the market.

The news of the Federal Reserve's interest rate cut is about to be announced. Although non-farm data suggests a low probability of a rate cut, Bitcoin's rise has lasted too long, making a correction inevitable. The current price still hovers around 94,000, and there are doubts about whether bulls can continue to profit from it, while bears are eagerly watching this wave of profit.

From a technical perspective, the MACD death cross signal is strong, and it may continue to decline in the short term. The upper pressure is at 98,000, and the lower support is at 89,000. The 1-hour level shows increased selling volume and reduced rebound volume, indicating that a correction is still possible.

In the short term, it is advised to avoid easily going long and to pay attention to correction opportunities. If there are concerns, it may be wise to choose to close positions. The long-term trend remains bullish, and it is recommended to wait for a pullback opportunity, with the possibility of gradually bottom-fishing in the spot market.