【The bearish trend remains unchanged, but be wary of sudden market surges】

Old Jin has repeatedly pointed out that Old Te's choice of Walsh still aims to promote interest rate cuts. However, reality is often more complex than expected; repeated geopolitical risks and persistent inflation make it difficult for rate cuts to be implemented quickly.

As a result, the market has begun to enter a mode of "expectation management": on the surface, policies remain unchanged, but in reality, asset prices and market sentiment are influenced by continuously releasing expectations.

The voting day for the mid-term elections in November and Old Te's hint at attending the APEC leadership summit in Shenzhen could both become new catalysts for sentiment.

Returning to the market, the current trend still favors bears, but investors should also guard against sudden rallies after the bearish news is concentrated and released.

Old Jin believes that BTC is very likely to oscillate around 58800 in the short term, with a focus on the tug-of-war between bulls and bears in the 58500—58000 region. If it effectively breaks down, the focus will further shift to 56500 and 52500. Moreover, both of these key support levels also present opportunities for technical rebounds.

60000 and 61000 have quickly become history and pressure; prudent friends can set up oranges at high positions.

The trend remains unchanged, but the rhythm is more important. Bears dominate, but that doesn’t mean it’s a one-way street; maintain respect and patiently wait for the market to provide answers.

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