9.18 BTC and ETH intraday strategy: With the interest rate cut approaching, where will the market go?
Yesterday's 4-hour trend chart was very obvious. After bottoming out at around 57,500, it began to push up from the 58,000 support, forming a low-low-high rising structure. The general direction of this week's strategy is very accurate. We will enter the market with low-to-long positions all the way. As mentioned in the post the day before yesterday, the key node is 58500. Once it stands on the long position, it will continue. The deep decline of the market is also in a state of inducing shorts. The interest rate cut is approaching, so we still enter the market with low-to-long positions.
From the 4-hour chart of BTC, the support below is around 58930, which is also the Fibonacci golden section. The lifeline of the hourly chart is at 58850, which is also the key support level of the daily line. If an effective breakthrough cannot be formed during the day, the market will continue to fall back and then move upward. Looking at the trend chart below, it is very clear that the big cake is oscillating in the triangle range, and the space is compressing. Before the trend breakthrough, the market will undergo a wave of deep adjustments, so low-to-long positions are relatively safe.
BTC intraday strategy: 58850-59350 to do more, the target is around 60350!
ETH intraday strategy: 2285-2305 to do more, the target is around 2375!
