September 18 Market Review and Analysis
The market has been volatile recently. After BTC fell the day before, it rebounded strongly yesterday and climbed to a new high of more than 61,000 points.
In contrast, ETH did not rebound significantly after the decline the day before. In today's correction, secondary currencies still appear to be relatively weak.
During the rebound of BTC, many altcoins did not rise with it, but suffered heavy losses when they fell.
At present, although BTC's rebound is strong, if it is not stabilized, the market still has hidden worries, like a sword hanging over the head, which may fall at any time.
Therefore, the bullish sentiment in the market lies in the fact that BTC has not made people despair, and driven by it, everyone still has expectations for the market.
In fact, in addition to BTC, even ETH's performance is not satisfactory, and other currencies are even mediocre. Looking back at the overall trend, 61,300 points happens to be the third high point at the daily level. The market trend is still worth paying attention to, and there are still 12 days to the end of the month.
Today and recent highlights
Although BTC's strong rebound yesterday is encouraging, it does not mean that the market has completely reversed. The rebound is more of a self-healing performance, and it has failed to effectively drive the overall market.
The resistance level near 60,500 points should be paid attention to during the day. At the same time, the first support level of 59,200 points should be paid attention to during the daytime correction. The second support level is in the low area of the day before, about 57,600-58,000. If it falls below this range, it is necessary to be alert to the possibility of falling to 55,000 points.
ETH's performance is relatively weak, and the rebound strength at the daily level is far less than BTC. Yesterday's highest was only close to 2,400 points. ➕👗➩BNB0098
The early morning correction is also relatively weak. Although this weakness is expected, if ETH falls below 2,200 points, it may start a new trend starting with 1.
Pay attention to the support of the 2,280-2,240 range in the short term. If it falls below, be alert to the key defensive support of 2,200 points.
