September 9, 2024 Market Analysis Macro Overview
Today's date: Monday Market sentiment: On the weekly chart, Bitcoin ($BTC ) closed with a Yin Cross Star pattern, indicating that the short-term direction of the market is unclear but there is a possibility of a change.
Technical indicators: MACD fast and slow lines are approaching below the zero axis, indicating that short-term momentum is weakening; the RSI indicator is at a relatively low level, suggesting that the market may be oversold and is approaching an important turning point technically.
Historical trend reference seasonal factors: Looking back at history, there is an 80% probability that BTC will show an upward trend in October, which provides a certain optimistic expectation for the current market trend.
Daily analysis of recent lows: Since September 6, after BTC hit a low of 52550, the market has entered a bottoming stage or may continue to find a bottom.
Operational suggestions: In view of the current high uncertainty, investors are advised to remain patient and avoid blindly guessing the market direction. Wait for the market reaction around September 18, during which conservative strategies can be adopted, such as short-term trading with a light position, or choose to wait and see.
Influencing factors: The market trend in September is greatly affected by news and policies, and we need to pay close attention to relevant dynamics. Detailed rebound signs of the 4-hour chart: BTC rebounded slightly in the short term, but the upper pressure level of 56600-57100 is significant, and the trading volume has not increased significantly, indicating that the upward momentum is insufficient.
Risk warning: The current market is still in an unstable state. After the rebound, there may be a risk of further decline. Investors need to remain vigilant and focus on the impact of external factors such as US stocks on the market.
In the face of the current complex market environment, investors are advised to remain calm and wait patiently for the market trend to become clear.
Optimistic expectations: Although the market fluctuates greatly in the short term, considering historical data and market sentiment, it is expected to usher in a clearer market after September, and investors can appropriately plan for the future.
