Ten years to sharpen a sword, there are reasons for the rise and fall; Bulls and bears do not love war, it is safe to put it in the bag.

Hello everyone, I am Tommy, a crypto economist, a trader rooted in the currency circle, and I have been studying Ethereum (ETH) for 6 years. First, let me talk about the three things I don't do in my trading: don't trade when tired, sleepy, or exhausted; don't trade when in a bad mood; don't trade when unable to understand the market trends. (In a bad state, one cannot perform at a normal level, leading to significant errors in market judgment)

Follow the public account: K-line Life Tommy: Opportunities are created in different time periods every day, so there is no need to rush. The original intention has never changed. While creating profits, I focus on professional risk control, making investments valuable and long-term, not letting down the encounters and trust in the past. I am available 24 hours a day for real-time guidance. Feel free to leave a message if you have any questions. All strategies are open and free.

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Review: The highly anticipated US July PCE data and August non-farm payroll report were released last week. The US stock market was closed on Monday, and there are no major data releases scheduled for this week, so investors will have a relatively quiet week. In terms of economic data, the US July factory orders, US August ISM non-manufacturing PMI, US initial jobless claims for the previous week, and US July wholesale sales will be released. The Fed will release the Beige Book on Thursday at 2 a.m. Beijing time. In addition, several Fed officials will give speeches. It is worth mentioning that this is the last speech by Fed officials before the meeting on September 21, and there will be a quiet period for the following week. In the short term, with the cooling of inflation, the probability of rate hikes will temporarily stop, so the current market is unlikely to be stimulated by news, and more incremental funds from the external market are needed.

Market: The weekly chart (Figure 1) has seen four consecutive declines, and the support below is close to the bottom of the accelerated rise in March this year. From the current sentiment of bulls and bears, it is likely that there will continue to be a retracement to around 1580 to consider a deep consolidation, which will determine whether the market can start a second bottom rebound in the second half of the year. The bearish box top at 1640 on the daily chart has not seen a breakthrough, and the chips continue to be maintained in the bearish range of 1640-1580 (Figure 2), with the box continuing to oscillate downward. The recommended operation is still mainly short on rebounds.

The daily chart has not broken through the previous platform level of 1680-1700, and it needs volume support. If these two conditions are not met, the short-term trend is still expected to see a second bottom rebound.

Short positions can be entered near the 1650 bearish box top for Ethereum, with a stop loss at 1675 and a take profit at 1610-1580.

Bitcoin's support at 25800 mentioned yesterday has been broken, and the next support level to watch is around 25000. The medium-term trend has broken through the previous platform level, and the bearish trend is still strong.

BCH: The area near 224 is the chip area for the bullish consolidation. There is no signal for a second bottom near the previous large bullish candle around 190, so it either continues to consolidate or continues to place orders at a lower platform around 140. If 224 is not broken, the current price will continue to look for a second bottom consolidation platform around 180. There is no need to worry too much about the high short positions given earlier, so continue to hold.

The daily chart has quickly fallen back after entering the bullish area, and it will still face a second round of bottoming.

The new investment plan for September is still open. For real-time guidance, please follow the public account at the end of the article for details.

Only the returns of ETH are publicly disclosed and can be checked online. Real-time guidance is the main focus of actual trading data. For details, follow the public account to learn more.

Mainly targeting spot, futures, BTC/ETH/ETC

Expertise: Candlestick trading

Original trading volume strategy.

Short-term swing high and low, medium and long-term trend trades, daily extreme retracements, weekly K-line top predictions, monthly head predictions

Public account QR code

Friendly reminder: The only WeChat public account at the end of the article is created by the author himself!

Please be cautious in distinguishing between true and false. Thank you for reading!

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