On September 27, the daily chart of BTC shows that the current price is in the long-term downward channel, and has tried to break through the upward channel line many times but failed, and the upper resistance is still strong. BTC encountered strong resistance near 65500-66000, which is also the suppression level of the long-term EMA200. The main support level below is near 60000. If it falls below this support level, the price may fall further again. From the Bollinger Bands, the BTC price fluctuates near the middle track, and the Bollinger Bands gradually narrow, indicating that market volatility is decreasing.
Usually, this means that the market may usher in a directional breakthrough. Long strategy: At present, the market repeatedly tests the upper pressure range, effectively breaks through 65500-66000 and tests the downward channel. You can arrange long orders, and the target is 70000. Short strategy: The market fluctuates repeatedly, and after a false breakthrough, it falls back into the channel. You can try to arrange short orders.#Ethereumis currently running in a wide range of fluctuations. The support and resistance at both ends are relatively obvious. The current ETH price has been blocked many times near 2850 USDT, and the support below 2500 is crucial.
Recently, the price fluctuated repeatedly around the 2500-2850 range, and the Bollinger Bands narrowed. The market is in the "accumulation" stage. Long strategy: Buy on dips around 2500, and set the stop loss below 2400. The target is 2800. If the price breaks through this position, it can continue to look above 2900.
Short-selling strategy: If the market falls below the 4-hour rising channel, consider shorting with a light position, with the target at 2150 and the stop profit at around 2200. The current market sentiment tends to be cautious, especially when the key support levels of BTC and ETH have not been effectively broken, the game between long and short will be more intense. Whether it is long or short, it is necessary to set a clear stop loss to prevent the loss from expanding due to sudden market conditions. Don't predict the market trend too early. It is safer to operate after confirming a breakthrough or effective rebound at a key position.
Previous Review:
After falling from the highest point in March this year, it has fluctuated repeatedly, and the fluctuations are even, but the high points after the fluctuations are lower and lower, and the overall trend is downward. I personally expect that this fluctuation will reach around 68,000 at most, and there will be a big correction.
