Bitcoin, Ethereum Operation Strategy
🌸The medium- and long-term upward trend of Bitcoin has been determined, and it will be getting closer and closer to the start of the second stage of the bull market. In the short term, a five-wave structure has been formed since the rise of 52500. The key resistance level of 65000 has been emphasized many times here. If this level does not break 52500, the entire rebound will need a small-level retracement and consolidation. Only after consolidation will it continue to rise and start the main rising wave. Once it breaks through and stabilizes at 65000, the target of 68000/70000 will be seen. After Bitcoin rebounded to the resistance level of 65000 in the early trading, it retreated as expected. Tonight, everyone pays attention to the small-level support of 63200. If this level is lost, the bulls will lose the short-term rebound momentum and will test the bottom support of the high box of 62400, which is a very critical support. Once the market turns weak and accelerates, pay attention to the 60500-61500 support. If it breaks through, look at 58000-59000. The overall operation is mainly to layout and increase positions on dips.
🌸After hitting the bottom, the Ethereum exchange rate has recently shown a strong rebound. The strong resistance above is 2700/2800. If the short-term rebound does not break the resistance, the big cake will retreat and consolidate. After the consolidation is completed, it will continue to rise. In the short term, pay attention to the support of 2530-2550 at night. If this position is not broken, there will be a rebound. If it breaks, it will focus on the support of 2400-2450, and mainly buy at low prices.
🌸Spot strategy:
1: If new students have large or fully invested positions, it is recommended that when the resistance level of 64500-65000 is not broken, they should mainly reduce their positions to take profits when the price goes high, and wait for a short-term pullback before adding to their positions again. Do not chase highs now!
2: If you want to invest in Ethereum, pay attention to the support of 2530-2550. If it breaks through 2400-2450, you can make long-term investments in batches on dips.
3: For those who have reduced their positions at the high of 65,000, go to bed tonight and set limit orders for the currencies you want to buy to avoid missing the opportunity of a spike in the US market. The first position we look at in case of retracement is the 60,500-61,500 support. If it falls back to this trend line without breaking, you can take back the currencies that you reduced your positions at the high. If it breaks, you can increase your positions at 58,000-59,000. Overall, you can use the retracement to increase your positions to 80-90%.
4: It is expected that the last week of September will provide an opportunity to increase positions, and the main upward trend is expected in October.
