9.9 Market Analysis
Technical side:
Currently, the price of Bitcoin is moving around a benign decline, and it is gradually falling. At present, the risk of Bitcoin still comes from the failure to repair the weekly level. At this position, we can only see a rebound but not a reversal for the time being. If we want to reverse, we have to pay attention to the position of 57,000 to effectively stabilize. In the short term, the range of shocks will be maintained between 54,000 and 55,800. The short-term support below is 54,000, and the strong support below is 49,000.
Ethereum has relatively more callbacks, but it also means that the opportunities are relatively large, because this year its ETF has not risen much after passing, and it will also be upgraded in the second half of the year. When we did the analysis last week, we also reminded everyone that it was possible to return to around 2100 again. For us, it is still an opportunity. Finally, it returned to around 2150. The same defense position below is still 2140. Next, we will focus on whether it can have a shock bottom at 2140 and 2340. Again, if it returns to 2100 or below, we can build positions in batches.
News side:
Bitcoin spot ETF had a net outflow last week 706 million US dollars, 12 Bitcoin spot ETFs did not achieve net inflows last week
Trump will debate with Harris on September 10
CPI data will be released on September 11
Lowering the entry threshold of the US Treasury RWA product OUSG this week will allow many retail investors to enter the market to buy his US Treasury products
Sol Conference on September 20
Apple Conference on September 10
- On September 18, Token2049 opened
- On September 19, the Federal Reserve announced a summary of interest rate decisions and economic expectations
- On September 29, CZ is expected to be released from prison
