SQ240913P66000
- 1.70
- -1.68-49.70%
Block Newsroom
After the release of CPI data, bitcoin had a strong rise to $0.058 million! What are the market impacts?
Experts predict that these data may affect the Fed's interest rate decision, and the likelihood of a substantial rate cut at the next meeting is very low.
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Will the market rebound and recover in the next few months?
US stocks and the cryptocurrency market continue to rebound, with bitcoin building momentum below $0.06 million and altcoins following suit.
The BTC market gradually saw a long position lurking in these three cryptocurrencies, which soared 100 times after the interest rate cut.
Now, the pancake has stabilized at 58,000, what should we expect for the next market trend?
Bitcoin and Dogecoin experienced a sharp rebound in the market after a "heavy signal" from Elon Musk attracted over 46 million in traffic.
On Friday (September 13), bitcoin oscillated around the $58,000 level after reaching a high, with bulls holding the psychological barrier intact without breaking. Dogecoin slightly retreated after touching $0.1032. Billionaire Elon Musk hinted again in a tweet that he will join the U.S. Government Efficiency Committee, and his D.O.G.E abbreviation boosted meme coins. The Federal Reserve will release its September decision next week, pricing in a 25 basis points rate cut to support the bid for cryptos.
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Bitcoin market analysis on September 13th.
The market fluctuations today are no different from yesterday. The only certainty is that the rebound of 52,500 at the moment is only on a 4-hour timeframe, not on a daily timeframe. Therefore, today's strategy is the same as yesterday: buy on the decline and sell short after the rise. However, the current market has reached the important resistance zone of 58,500-60,000, where both long and short positions need to be cautious! The structure of Ethereum is even clearer, and after the oscillation ends, it needs to rise again!
It's the weekend again on September 13th, with frequent back and forth tug-of-war between the bulls and bears in the bitcoin market. Watch and see how it changes.
In terms of operation, we still primarily focus on shorting at high levels, and can enter the market around the support level.
Zhou Yanling: Bitcoin and Ethereum's latest trend forecast analysis and operational strategy for September 13.
Many people don't understand, shouldn't we continue to be bullish after breaking through? Yes, it is expected that there will be many people chasing after the rise above 58000, but Bitcoin has experienced two or three times of falling back.
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