First, let's talk about BTC. The article on September 1 mentioned that after BTC breaks through the downward trend line, it will not reverse in a V-shape; it is more likely to shift from a decline to a consolidation phase before choosing a direction. This week's movement has already validated the viewpoint in the article.
From the current trend, the consolidation range can be seen as between 107,500 and 113,500, with an amplitude of about 6%. The consolidation period has lasted nearly half a month, and next week is likely to see a directional change. Whichever side it goes, just follow the trend. If it directly breaks through 113,500, then BTC will have formed a head and shoulders bottom pattern, and we can expect at least 117,500+. If it breaks downwards, then we will continue to wait for the bottom to form.
ETH has been consolidating for nearly 10 days, with a similar amplitude of less than 6%, waiting for a directional choice. In the recent consolidation market, ETH's open interest has remained relatively stable. Pay attention to the changes in subsequent contract open interest; if the price rises again, there must be a corresponding increase in open interest, otherwise, there will be significant risks.
Overall, next week is likely to be a turning point.
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