In the speech community live broadcast: Bitcoin crashes by nearly 5%, is bull market faith being tested?

Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 As of the morning of September 2nd Beijing time, the price of Bitcoin plummeted to a low of $107500, a drop of nearly 5% from the previous day's high. Although it rebounded slightly to around $109000, market sentiment was significantly dampened. This sudden decline caught investors off guard and raised questions about whether the months long bull market is losing momentum? 【 01 Technical analysis, key support positions are facing challenges 】 From a technical analysis perspective, Bitcoin is currently at a critical crossroads. The resistance level of $112000 has become an insurmountable obstacle for bulls, and several attempts to climb have been unsuccessful. The focus of the market is now entirely on the support level of $107000. This position is not only an important checkpoint on the technical chart, but also a psychological defense line. Once this support level is effectively breached, the next important support level will move down to around $94000, indicating that there may still be more than 10% downward space. Technical indicators indicate that the market is in a delicate state. The RSI (Relative Strength Index) is approaching oversold territory, and the MACD indicator also shows market hesitation, with trading volume significantly reduced compared to previous days. 【 02 News calm, seasonal factors worth paying attention to 】 In contrast to the drastic price fluctuations, there were no significant negative news reports today. There are no new regulatory crackdown policies or negative news from large institutions. This' no news decline 'is even more worrying because it reflects the inherent fragility of the market. Analysts point out that historical seasonal patterns may be one of the factors. The cryptocurrency market has always had a 'September effect', which is usually a period of weaker performance for digital assets. Data from the past decade shows that Bitcoin's average return rate in September was negative. At the same time, although institutions such as JPMorgan have long been bullish on Bitcoin, believing that its fair value can reach $126000, short-term market sentiment is clearly more cautious. How should investors respond to the worsening divergence between long and short positions in 03 Currently, there is a clear divergence among market analysts regarding the future direction of Bitcoin. Many parties believe that this is just a healthy technical correction, accumulating energy for subsequent upward movements. The bearish side points out that the market needs more comprehensive adjustments to continue its long-term upward trend. This divergence is also reflected in the options market, where the demand for put options has recently increased. For investors, risk control has become the most important consideration at present. The risk of high leverage positions in such fluctuations is extremely high, and it is easy to encounter liquidation. Rational investors can consider phased layout to avoid a one-time heavy entry and retain their financial strength for possible further declines. In the coming days, the competition for the support level of $107000 will become the focus of market attention. If it can hold on, Bitcoin may build a new platform at its current position and accumulate strength to attack again. If it falls, the market may need to explore the $94000-100000 range to find support. Regardless of the outcome, maintaining rationality is more important than chasing profits at this time of intensified volatility. Operation suggestion: BTC 107650 long. First target: 108850. Second target: 109900; ETH 4235 long, first target 4300, second target 4385. Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance! Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.