Market laws, twists and turns, reincarnation, internal cultivation of the heart, external cultivation of behavior, the road is long and far-reaching. Doubt can filter risks, but it can also miss opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life lead to different results. Without great ambitions, even with the help of influential people, one will ultimately fail. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. Through hardships and scenery, do not forget the original intention, and you will eventually succeed.
2023.9.8 BTC——————
Bitcoin has shown a certain increase as expected, but the increase is not very large. This is why it was said yesterday that shorting rebounds in a stable market is the main strategy, because the risk-reward ratio is not very favorable. Chasing after rises without significant expected increases may yield some profit, but the risk will definitely outweigh the profit. This is not the advice that Qin Chuan should give to everyone. Looking at the daily chart of Bitcoin, after the single K closed with a doji candle, it opened with a small increase and a bullish candle, a very clear signal of bullish fundamentals. The support below on the daily chart has moved up to 25900, and the high resistance has moved down to around 26800. The KDJ fast line is running in the oversold zone, so the recommendation is still to short on rebounds on the daily chart. On the short-term four-hour chart, the moving average is rising above 25800, forming short-term support, with resistance at around 26400 and accelerated volume on the MACD. Taking all the above into consideration, it is still recommended to short on rebounds this week.
Pending orders:
Short at 26800-26600, with a 400-point defense, and take profit at 600-800 points or more
2023.9.8 ETH———————
Yesterday's Ethereum price of over 1630 successfully reached a take profit of 20 points. The support for Ethereum on the daily chart has moved up to 1640, and the high resistance has basically remained unchanged, still around the key level of 1700. The MACD fast and slow lines have opened up at the bottom. In the case of Bitcoin stabilizing and not falling, Ethereum also has the strength to test around 1680. On the short-term four-hour chart, the support is at 1636, and the price has moved from the previous Bollinger Bands oscillating market to the rising channel of the Bollinger Bands. Intraday short-term attention is focused on the support at 1635, and a long position can be tried at the current price of 1642, or at the support level of 1635. Taking all the above into consideration, it is recommended to cautiously short on rebounds for Ethereum.
Pending orders:
Long at the current price of 1642, or long at 1635, with a take profit of 20-30 points
Short at 1670-1690, with a 30-point defense, and take profit at 40-60 points
This article is exclusively written by senior analyst Qin Chuan, who has been researching the investment field of Bitcoin, Ethereum, contracts, spot, gold, foreign exchange, stocks, etc. for many years. Currently, he mainly guides contract operations and has solid theoretical knowledge and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. He is recognized by many investment friends for his amiable and responsible character and sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, follow the public account: Zhao Qin Chuan.
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this is at your own risk. Investment carries risks, so be cautious when entering the market.
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