September 12 Market Analysis Update
Market Review:
Yesterday's market trend was quite challenging.
In the morning, there was a pullback as expected, and both BTC and ETH reached the intraday support level, which did not deviate from the forecast.
However, the rebound strength after the support level exceeded expectations, and BTC hit around $58,000 again, with large price fluctuations.
The positive information on the news directly led to the decline in prices, and then the rebound suppressed the air force again. Despite this, this did not change my overall view.
Today's focus:
BTC market: Currently, BTC has rebounded near the intraday support level of $55,600, and is currently close to the double top position at the four-hour level, that is, around $58,500.
The $58,000 position temporarily showed a false break phenomenon, and the closing situation at the four-hour level remains to be observed. It is expected to fluctuate in this price range during the day, and may then further decline.
The first support point of the day is in the $56,000-56,500 range. If it falls below $56,000, pay attention to the $54,800-55,300 range. ➕👗➩BNB0098
ETH market:
ETH is still facing resistance pressure, and its performance is slightly inferior to BTC.
The rebound after the support level of $2280 was weak and failed to break through the current resistance.
Focus on the support level of $2320 during the day. If it falls below, focus on the second support level of $2200-2240.
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