Today, September 2nd, is the beginning of a new school year. I just sent two mythical creatures to school. After dropping them off at the school gate, I witnessed them happily walking into the school with light steps. I couldn't help but feel a bit emotional: comparing today's children with myself at the same age, there is a feeling of a world of difference!
Over the weekend, BTC has been continuously weak and volatile. Last night, it broke through to a new low of 57201 in this round of pullback, with the bulls being suppressed by the bears. This morning, it was once again suppressed by the bears near the previous low, and the current price is 57284, just a step away from the previous low.
Structurally, it is still running a 1-hour pullback from 65000, which is still extending downwards, while the upward movement on the 1-hour level is coming slowly. However, from the internal structure, it is already in a divergence phase and could rebound at any time.
From the chart, it can be seen that the 1-hour downward movement is constantly testing near the lower edge of the center, with the price continuously hitting new lows but the momentum has weakened. Moreover, this downward movement has lasted for over a week since the high point on August 26th, so a significant rebound is likely to occur soon.
Given that the current trend is a 4-hour downward movement, it is best to wait for the right opportunity of a secondary 15-minute buy signal for a short-term rebound, which is safer to prevent the trend from continuously extending downwards. The bottom-fishing opportunity at the higher 4-hour level still requires patience.
The above analysis is for reference only and does not constitute any investment advice!
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