2024.9.4 Today's market analysis: ##btc ##eth

Last night, the US stock market opened and the market began to fall. This morning, the market fell again and broke through 56,000. This position has been waiting for a long time and finally arrived. Should we follow the previous plan to buy the bottom here?

It can be clearly seen on the 4-hour chart that the market falsely fell below 56,000 and recovered, and it was very strong. I have reminded this position of 56,000 many times. I have said every time that if it falls below 56,000 and recovers, you must go long. I don’t know how many people have entered the market and gone long. If you don’t go long, don’t worry. There is still a chance when it falls back.

Here you need to look at 5 minutes. If you don’t fall below 56,000-56,200 in 5 minutes, you can consider long orders, and the upper pressure is 57,300-57,550.

The same is true for ETH. Here, a false breakout and recovery action was made. At the 5-minute level, the support strength of 2330-2340 can be seen. If it holds, you can consider long orders. The upper pressure is around 0.618 (2407).

At present, the market has finally made a clear move. The false breakout and recovery at the key position make the market structure clearer. Here, you can choose to find a position to go long without breaking the previous low.