Market laws, twists and turns, cycles change, inner cultivation of the heart, external cultivation of actions, the road ahead is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. 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.
2023.8.28 BTC——————
As the end of the month approaches, the weekly BTC chart shows a small doji star, indicating a certain stabilization and cessation of decline. However, the breach of the 28000 level on the monthly chart is the biggest bearish signal for the market. Last week, Qin Chuan mentioned that as long as the market is in a sideways trend, it is bullish. This view remains unchanged, as signs of a halt in the decline have appeared on the daily and weekly charts. So why hasn't there been an uptrend? This is a problem beyond the technical aspect. In the short term, BTC has been maintaining a Bollinger Band midline trend, indicating a Bollinger Band oscillating market. Therefore, the most stable approach in the current market is to trade within the range of 26550-25600. In summary, there is a bullish demand from a technical perspective, but considering the overall situation, it is recommended to focus on range trading.
Pending orders:
Short at 26350-26550, with a 300-point defense and a 500-point target
Long at 25800-25600, with a 200-point defense and an 800-1500-point target
2023.8.28 ETH———————
Ethereum continues to decline overall on the four-hour chart, and the absorption around the Bollinger Band midline has not been very effective. The previous layout, including that of Bitcoin, was not very perfect. Selling pressure on the daily chart has slid from 1770 to the key level of 1700. Simply put, Ethereum must stabilize above 1650 in order to test the selling pressure at 1770 and absorb the selling orders here. This is why Qin Chuan previously suggested setting a small stop-loss for long positions. As always, I am bullish from a technical perspective, but the actual development did not follow the script. Therefore, considering the above, Qin Chuan suggests the most stable range trading approach: buy low and sell high! Keep an eye on 1680-1620!
Pending orders:
Long at 1620-1630, with a 10-point defense and a 50-80-point target
Short at 1680-1690, with a 10-point defense and a 20-40-point target
This article is exclusively created by senior analyst Qin Chuan, who has researched Bitcoin, Ethereum, contracts, spot markets, gold, foreign exchange, stocks, and other investment fields for many years. Currently, he mainly guides contract operations and has solid theoretical knowledge and practical experience. He excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and has a steady and decisive trading style. With an amiable and responsible personality, as well as sharp and decisive operations, he is recognized by a large number of investment friends. For more real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, follow the public account: Zhao Qin Chuan.
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operations based on this are at your own risk. Investment carries risks, so be cautious when entering the market.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
