2024.9.14.BTC.Intraday market analysis

Good afternoon, brothers. Last night, Bitcoin broke through the 60,000 mark and directly hit the weekly support. I repeatedly mentioned in the market analysis of the previous two days that once the upper resistance level of 58,500 is broken, it will directly hit the weekly support target of 59,766.

If the weekly line can close at 60,000 next week, it will not rush to around 64,000, so the market trend of the past two days is more critical. The weekly resistance is still very strong. Whether it can be closed depends on the market trend of the weekend.

First look at today's market trend analysis:

Currently, Bitcoin has begun to retrace at the one-hour level. The retracement needs to look at the two positions of 59497 and 59181. If the retracement does not break these two positions, the market will continue to be bullish, and the upper resistance is still 60597 .Only if this price is broken through, the upward force will be strong. If it fails to break through, it will form a sideways fluctuation in the range of 60597-59000.

Today, pay attention to the four-hour support of 59181. If the four-hour closing line falls below this position, be cautious about bullishness. The market will go through a four-hour level correction. The correction targets are 58120.57629.57138.

ETH

The aunt is currently going through a one-hour level correction, and the correction demand is 2405.2394. Pay attention to the four-hour support of 2394. If the four-hour closing line falls below 2394, it will go through a four-hour level correction. The lower target is 2357.2336. The overall trend of the aunt is very weak. The monthly and weekly levels are both on the short side, so there is no bull market. #ETH🔥🔥🔥🔥

I think that although the current market is rising, this rise has not formed a reversal trend. In the case of spot layout, we must wait until the weekly line closes above 60,000 next week before considering the layout of the short-term position, with a target of around 64,000. If the weekly line fails to close above 60,000 next week, we must wait for a second bottoming of the daily line before considering the layout, so brothers should remain calm.

Only with clear thinking and clear direction can we have a clear mind. If you are still unclear about the daily market trend, you can pay attention to my daily updates of intraday strategies, market analysis and precise points #BTC☀