Bitcoin's short-term support is 56,000-56,800 US dollars, and its short-term pressure is 58,500-59,500 US dollars. The three major US stock indexes rebounded across the board. Powell may decide whether to cut interest rates in September next Friday. The market believes that the probability of a 25 basis point cut in September is 74%. The interest rate cut is coming, so why is Bitcoin going in the opposite direction of the US stock market? I personally think there are two reasons. One is that the US government may sell Bitcoin, and the other is that Bitcoin should have a second retracement from the technical trend. Leng Feng has reminded everyone that Bitcoin will have a pullback near $63,000. Now $56,000 is not necessarily the low point of this retracement. I personally think that the low point will be in the range of $53,000-55,000. Therefore, the short-term is still mainly based on selling high and buying low, and the medium and long-term waits for the retracement to be in place before covering the position.