September 23, 2024 Bitcoin and Ethereum intraday market analysis + weekly key points A new week has begun! Today the market started to rise as soon as it opened, bringing some positive signals.
Bitcoin (BITCOIN) has confirmed that it has entered the bullish stage at the weekly level, marking the end of the previous downward trend. Friends who did not seize the opportunity to buy at a low price do not have many opportunities for the time being. It is recommended to hold the existing chips and wait patiently for the market outlook. Monthly Review and Bull Market Outlook
In June, it was mentioned that the monthly line entered a sideways fluctuation phase, the second half of the bull market ended, and the market entered a wash-out period. At that time, it was recommended that everyone buy Bitcoin spot on dips and wait for the Fed's interest rate cut. The arrival of the interest rate cut will be a key catalyst for the second half of the bull market. If the interest rate cut is implemented, the bull market will restart. For friends who firmly hold spot, I can be sure that holding Bitcoin spot will definitely be profitable! For friends who hold short orders, it is recommended to pay attention to risks. This week, we need to focus on whether the weekly line will have a retracement, otherwise once Bitcoin breaks through the key pressure level near 65,000, the next target will be 68,000, and then 72,000. Short order holders need to pay attention to whether their margin is sufficient. Bitcoin (BTC) key points this week support level: 61000 - 59200 pressure level: 65100 - 67500 Ethereum (ETH) key points this week support level: 2450 - 2310 pressure level: 2700 - 2870 Intraday market analysis: Bitcoin (BTC) Bitcoin pulled back to the first support level at night and then rebounded rapidly. Currently, the trends at all levels are in a bullish state.
Today's support level needs to pay attention to 63610-63058-62340. As long as the retracement does not fall below 63058, the 4-hour level will remain bullish, and it is expected to continue to rise after a short-term retracement.
The upper target/pressure level is 64500-65150-66110. If it continues to rise, the market is expected to challenge these targets. Ethereum (ETH) After Ethereum pulled back to the first support level at night, it also began to rise and hit the third pressure level.
Today's support level is 2627-2595-2560. As long as it does not fall below 2585, the 4-hour level will remain bullish.
The upper target/pressure level is 2690-2752-2820. It is expected to challenge these positions when it continues to rise. Summary: This week, Bitcoin and Ethereum fluctuated between key support and pressure levels. Focus on whether the Federal Reserve will send a favorable interest rate cut signal. In short-term operations, investors holding chips can patiently wait for market performance, while short position holders need to pay close attention to the breakthrough of key pressure levels to avoid the risk of insufficient margin. #BTC☀ #ETH🔥🔥🔥🔥
