9.29 The situation is tense. BTC has tested 66,000 twice but failed to break. Is a big correction coming?

Why BTC has not fallen yet and has not seen a big correction may be because of this. I saw that the greed index is only 63 today, which means it is not greedy enough. When the greed index rises to 85-90 after another wave of rise, it may be the time for a big correction, and it may not even reach 80 before it is ready to fall sharply. Why? Because on July 29, Bitcoin BTC began to fall sharply, when the greed index was 74. On June 7, Bitcoin BTC began to fall sharply again, with a greed index of 77. So once the greed index is around 75, you may have to be careful. Of course, this greed index is for reference only and there is no inevitability!

Then some people may worry that since BTC is about to fall sharply, can they short it in advance? I think it is not possible, because there is no sign or signal that the rise has ended. Since the rebound has not ended, there may be another wave of rush. This wave may be a bit fat, and then rush and rise sharply, and then fall sharply, so it may be this way.

Wait for the short-term correction to be in place or a breakthrough before going long. There are only two situations. You need to pay attention to the need to control the position. It is not recommended to go all-in or operate with high leverage at such a high position. This risk is relatively large. Once it is not right, for example, a large negative line with large volume appears, or the low point is broken, and some key signals appear, you should switch from long to short in time, or go short after stopping the loss. Don't be stubborn and go all the way.

At the daily level, BTC has twice tested 66,000, but failed to stand firm. At present, the bullish potential of MACD is obviously insufficient, and it is necessary to focus on the support level of 65455. If it stands firm, it may attack the pressure level of 66500 again; if it falls below, it is necessary to pay attention to the support of the MA20 moving average below 64473. Pay special attention to the MA20 moving average support of 8H. BTC has stepped back on this moving average many times this month, and it has been supported and rebounded by more than 5%. If the recent market operation is not ideal, consult btc0796 and find me to discuss the market together.

Pie 65800-66300 short, target 64500-64000, defense 66800

Ether 2660-2690 short, target 2600-2550, defense 2720

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