9.12 Bitcoin and Ethereum Morning Market Analysis and Trading Suggestions

CN
2 days ago

Morning Analysis: Last night's CPI data did not cause a significant reaction in Bitcoin. From the 1-hour chart, 113500 has formed an important support line. As long as the price stabilizes above this level, the short-term bulls will still dominate. From the 4-hour level, the price continues to test the upper Bollinger Band, accompanied by steadily increasing trading volume, indicating a healthy volume-price structure. The technical pattern shows that the market will mainly trend upwards with fluctuations, with a clear bullish bias.

Ethereum, from the 4-hour chart, shows the price running closely along the upper Bollinger Band, continuously fluctuating upwards. However, it is still in a range-bound fluctuation. Although there will be a rise in the short term, around 4500 is a strong resistance level, with multiple tests resulting in pullbacks. The last CPI data before last night's interest rate cut did not break this level, indicating that the pressure above is quite strong. Key focus today is on the breakout situation around 4500-4510.

Trading Suggestions: For Bitcoin, consider buying in the area around 115000-114500, with a stop loss at 114000, targeting around 116300-116800. If broken, look for targets around 117300-117800; if not broken, consider shorting.

For Ethereum, consider buying in the area around 4430-4410, with a stop loss at 4370, targeting around 4480-4510. If broken, look for targets around 4550-4570; if not broken, consider shorting.

These strategies are for reference only. Please invest cautiously and secure profits. (Follow Dan on WeChat: Ethereum Kai)

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