Market analysis on September 17
Today, the market focuses on BTC's 58,500 position. The reason is
1: This is the lifeline of the previous stage of the daily line. After the breakthrough, it fell back and closed below this level yesterday, indicating that the short-term strength is weak.
2: It is also the lifeline (resistance) position of the hourly chart of the current rebound.
If this position can be effectively stood above (with a medium-large positive line and the closing price standing above this position), the market will resume bullishness. If it cannot stand above this position, the support of 55,500 may be tested below.
Bulls temporarily avoid it and wait for the signal to enter the market. The medium and long-term trend will not be affected much.
