2024.9.13 Today's market analysis: ##btc ##eth

Yesterday's market remained volatile, and the market became boring. However, it was really because of yesterday's trend that an interesting action appeared here. Is it a peak or a takeoff?

In 1 hour, we can see a very obvious upward structure after breaking through the downward trend line. At present, the market is oscillating at the previous high position. This action is a "preparatory action" to prepare for a later breakthrough, but nothing is 100% certain. Then we need to find a turning point, 57310. Before it falls below 57310, we can find a position to take more. If it falls below, then it is very likely to look for the gap support of 56000-56259 below.

In 15 minutes, is it a W bottom (the so-called structural forms such as W bottom and head and shoulder bottom are not necessarily for bottom-fishing. The correct usage is that if they appear in the retracement stage in the bullish trend, it is a structure for going long with the trend). Here we will naturally continue to look at the upward attack. For the W-bottom pattern, the approach is to break through and stabilize 58400 to enter the long position, and look for acceleration upward.

For ETH, it is relatively weak, so we should keep the same idea as before. If it falls back to 2307 and does not fall below, we will look for a position to go long. If it falls below, we will look down at the support near 2270.

At present, the market is intensifying the game between long and short positions. For the time being, we will focus on short-term thinking and wait for the successful bottoming of the large level at this position.