Market laws, twists and turns, cycles change, cultivate the inner self, practice outwardly, the road ahead is long. 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 story of learning and growth. Through hardships and scenery, never forget the original intention, and one will eventually succeed.
2023.8.31 BTC——————
Bitcoin is still developing as expected. In the analysis on the 25th, Qin Chuan expressed a positive tone. The resistance level for Bitcoin must be around 27800-28000. On the daily chart, the price of Bitcoin is hovering around the support level of the middle rail at 27000, with the MACD indicator showing a bullish crossover with increasing volume. The daily chart maintains a trend of retracement to find support. On the four-hour chart, Bitcoin is within the BOLL upward channel, with the MACD showing a decreasing bullish volume, and the KDJ fast line J value has been lingering at the bottom, indicating a dull operation. Pay attention to the support level of 26700 for the top and bottom conversion. On the hourly chart, the price has entered the BOLL downward channel, with 27200 forming a short-term support, and the K-line and MACD showing slight signs of a bottom deviation, indicating a demand for Bitcoin price to break the resistance level of 27200. Based on the above, it is suggested to go long on the subsequent retracement.
Pending Order:
Long at 26700-26800, defend 300 points, target breaking 27200
2023.8.31 ETH———————
On the daily chart, Ethereum is slightly different from Bitcoin. After briefly breaking through the resistance level, the price quickly fell below it. Therefore, 1710-1720 remains a strong pressure zone. In the current situation, only if Bitcoin can maintain a bullish trend, can Ethereum rise and absorb the selling pressure at 1720. On the four-hour chart, Ethereum focuses on the support level of 1680, and on the hourly chart, the selling pressure has shifted to the 1700 level. Therefore, based on the above, it is suggested to operate within the range of 1680-1710 for Ethereum.
Pending Order:
Long at 1680-1670, defend 30 points, take profit at 30-40 points
This article is exclusively authored by senior analyst Qin Chuan, who has researched the investment fields of Bitcoin, Ethereum, contracts, spot, gold, forex, stocks, etc. 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 on capital management and risk control, and has a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible character, as well as his sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge about 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. Any operation based on this is at your own risk. Investment involves risks, so please be cautious when entering the market.
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