Will the market continue to fall? Where is the bottom?
BTC and ETH have already reached the first target we mentioned earlier: $112,000 and $4,050.
The second target, $105,800 and $3,830, is also very close!
At this point, there should be a rebound after reaching the first target, though the rebound may not be significant.
The current situation was actually discussed at the beginning of the month: Expectations of a September interest rate cut were hyped up, and Bitcoin has continuously broken new highs. However, after all, there hasn't been an actual rate cut, so there's still too little money in the market.
Firstly, it can't support a sustained rise, and secondly, it can't support the rise of most cryptocurrencies. Only a few high-quality cryptocurrencies have seen significant gains.
Although I mentioned yesterday that the bull market foundation remains in place, a deep market correction is inevitable. Otherwise, if interest rates are actually cut and market liquidity increases, the main players won't be able to pull such a heavy load.
Where is the bottom? For BTC and ETH's bottoms, let's first consider the second targets mentioned on Monday: $105,800 and $3,830. As for the third targets: falling below $100,000 (around $95,000) and $3,500, the probability has now increased to 50%. For altcoin declines, multiply the decline by 2-3 times the ETH decline.
Finally, the longer the price falls, the more it tests your courage to buy the dip!