Oh no! The cryptocurrency market has finally welcomed a rebound, but where will it rebound to? Will it drop again? Let's take a look.
As we mentioned yesterday, the cryptocurrency market has welcomed a second bottom test, with Bitcoin showing strong support above the 111,400 level, where many people have placed buy orders, leading to a wave of rebound in the market. This rebound is expected to reach around 113,300 to 114,000 before determining the next direction.
Currently, the market is worried that this might just be a retracement in a downtrend, with final support above 107,000. We need more data to observe this; however, at least until the end of September, I will buy some because there is likely to be another wave of enthusiasm in mid-October, as we discussed in yesterday's program.
In the short term, after the contract rebounds, one can sell at a high, while spot trading with little liquidation risk can be bought at a low. We discussed some of these points in our program, and the member group has also guided everyone to enter the market. However, assets like BTC, SOL, and PENGU have all successfully reached the second bottom and enjoyed a substantial rebound. The second bottom is not deceiving me; this wave has seen the following numbers: $BTC