Zhao Qinchuan: After breaking through the support, we will conduct weekend range absorption operations.

CN
1 year ago

The law of the market, 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.

2023.9.22 BTC——————

On the daily chart of Bitcoin, a evening star pattern has formed, with MACD showing increased selling volume. This is not a bad result for the overall trend. KDJ has diverged downwards, with the J value touching below 20. Wait for the price to reach the support level around 26200 to make a layout. In the short term, the four-hour chart has broken through the uptrend line and formed a brief support at 26400, then it will seek support and rise, forming a bullish flag. Pay attention to the selling pressure at 26900, and consider setting up a short position again. On the hourly chart, the price is maintaining a Bollinger oscillation trend. There is a need for a retracement to around 26500, and it needs to absorb funds before it can continue to run, otherwise it will still come to the 26200 daily support. In summary, it is recommended to focus on range operations on Friday.

Pending orders:

Short at 26900-27100, defend 200 points, target 300-500 points

Long at 26400-26200, defend 300 points, target above 500 points

2023.9.22 ETH———————

Ethereum's daily chart is consolidating, with 1624 as the daily resistance. MACD continues to shrink in a bullish trend, and KDJ is turning at the bottom, indicating a rebound. Pay attention to whether it can stand firm after breaking through the selling pressure. Otherwise, long positions cannot be held for the long term. On the four-hour chart, the Bollinger Bands are opening downward, and the price will rise to around 1618-1625 and then be under pressure to decline. You can set up a short position here with a small position, and there is a demand to retest the bottom around 1580. In this case, we can place orders for long positions again. In summary, it is recommended to focus on range operations in the short term.

Pending orders:

Short at 1615-1625, defend 20, target 30-50 points

Long at 1580-1560, defend 30, target 30-40 points

This article is exclusively created by senior analyst Qin Chuan. For more market information, 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 information is at your own risk. Investment carries risks, so please be cautious when entering the market.

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