9.16 Bitcoin Analysis
The daily line formed two small negative lines over the weekend, accompanied by sluggish trading volume, which means that this previous upward trend is facing a correction, and long positions need to be vigilant.
After maintaining a high sideways trend in the medium term, the price failed to reach a new high. With the increase in short-selling momentum, a downward breakthrough was ushered in. In the short term, after completing the trend conversion from multi-to-short yesterday, it has now begun to enter a downward trend. The N-shaped trend will be maintained in the future, and the probability of continued decline is relatively high.
Macro analysis:
In the long term, it is still oscillating within the rising flag structure. (Popular science: most rising flags break upward, and most falling flags break downward.)
The current price range of 58700-60700 is in the middle of the flag. Generally speaking, it is difficult to operate in the middle because both the upper and lower parts are half and half. We can just wait and see, or wait for news to appear and then operate accordingly.
Important Events:
1. World Liberty Financial, a cryptocurrency project supported by Trump, is about to be launched and has invited the co-founder of Scroll to join the advisory team;
There was a shooting at the golf club where Trump was playing golf, but the campaign said he is currently safe.
2. The parliament on the 18th will decide whether to cut interest rates or by how many points.
As for the choice between 25 and 50 basis points, I personally don't think it will cause much trouble. I am not even bullish in September. I am looking at October. There will be the third and final bottoming out in October. It is estimated that it will be like last October and will continue until the new year.
And this time Ethereum ETH will rise in a charging posture. Lagging behind and rising has always been the style of Ethereum. If you have experienced the last bull market, you will understand it. Therefore, Liulang will hold a large position in Ethereum ETH this time.
Well, there is still half a month left, and you have to listen carefully to the next ideas. There will definitely be wide fluctuations. The approximate range of Bitcoin BTC is: 53500-59500, and the approximate range of Ethereum ETH is: 2185-2385.
