Ten years to sharpen a sword, there are reasons for the rise and fall; Bulls and bears do not love war, it is safe to put it in the bag.
Hello everyone, I am Tommy, a crypto economist, a trader rooted in the currency circle, and have been studying Ethereum (ETH) for 6 years. First, let me talk about the three things I don't do in my trading: don't trade when tired, sleepy, or exhausted; don't trade when in a bad mood; don't trade when unable to understand the market trends. (In a bad state, one cannot perform at a normal level, leading to significant errors in market judgment)
Follow the public account: K-line Life Tommy: Opportunities are created in different time periods every day, so there is no need to rush. The original intention has never changed. While creating profits, I focus on professional risk control, making investments valuable and long-term, not letting down the encounters and trust in the past. I am available 24 hours a day for real-time guidance. Feel free to leave a message if you have any questions. All strategies are open and free.
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Review: The market on Saturday and Sunday was as calm as ever. In terms of data, the number of new private sector jobs in the United States increased by 177,000 in August, not only far below the revised 371,000 in July, but also lower than the market's general expectation of 200,000. In terms of GDP data, the US GDP for the second quarter of 2023 grew at an annual rate of 2.1%, down 0.3 percentage points from the initial estimate. Profit-taking and other factors exacerbated the decline of the S&P 500 index in early August, but the S&P 500 index regained its upward momentum this week (as of September 1); it is expected that overall market volatility will increase, and any action or comments from the Federal Reserve will disturb the market trends. Weekly jobless claims will be released on Thursday; the July commercial wholesale inventory report will be released next Friday.
On the market, BTC is still oscillating in the range of 26,100-25,800, and ETH is oscillating narrowly around 1,650-1,630. The funds above 26,100 for BTC have already signaled entry, but it is important to note whether there will be a simultaneous increase in volume and price at 26,100-26,200, and whether the bottom can be solidified below. Relative to ETH, currently Bitcoin has stronger support below, and the signal for the bottoming out of Ethereum is relatively weaker. Moreover, the volume of the bulls has not given a signal to enter, so the short-term operation is still recommended to follow the strategy of high short and low long for narrow profit expectations.
On the daily chart, there has been no breakthrough of the previous platform level of 1,680-1,700, and volume support is needed. If these two conditions are not met, the short-term trend is still expected to see a secondary pullback.
Short ETH at the top of the bearish box near 1,650, stop loss at 1,675, take profit at 1,610-1,580.
Bitcoin's support at 25,800 mentioned yesterday has been broken, and it continues to look for support near the next range of 25,000. The medium bearish line has broken through the previous platform level, and the bears are still in a strong pullback.
BCH: The area near 224 is the chip area for the bulls to build a bottom. There was no signal for a secondary bottom near 190 in the previous large bullish line. Either continue to pull back and build a bottom, or continue to place orders at a lower platform near 140. If 224 is not broken, the current price will continue to look for a secondary chip absorption platform near 180. There is no need to worry too much about the high short positions given earlier, so continue to hold.
On the daily chart, entering the bull area quickly fell back, and will still face a second probe for bottoming out.
The new investment plan for September is still open. For real-time guidance, please follow the public account at the end of the article.
Only ETH returns are publicly disclosed and can be checked online. Real-time guidance is the main source of actual trading data. For details, follow the public account to learn more.
Mainly targeting spot, futures, BTC/ETH/ETC.
Expertise: Candlestick trading
Original trading volume battle tactics.
Short-term band high and low, medium and long-term trend orders, daily extreme pullback, weekly K-line top prediction, monthly line top prediction
Public account QR code
Friendly reminder: The only WeChat public account at the end of the article is created by the author himself!
Please be cautious in distinguishing between true and false. Thank you for reading!
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