Market laws, twists and turns, cycles change, cultivate the inner self, practice outwardly, the road to success 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 beautiful scenery, one must not forget their original intention to achieve lasting success.

2023.9.12 BTC——————

The short position layout from yesterday did not provide an opportunity to enter on the rebound, which is quite regrettable given the recent market conditions. The morning rally today has formed a strong bullish candle on the daily chart, indicating a shift in the balance of power between bulls and bears. However, the price is still within the Bollinger downtrend channel, with 26,000 serving as a clear midline resistance. The MACD indicator shows a widening gap between the fast and slow lines, while the KDJ is rising near the 40 level, maintaining a bearish outlook on the daily chart. In the short term, there hasn't been much change in the price on the four-hour chart. After briefly dropping below 25,000, a strong rebound brought the price back to around 25,800. Compared to the previous decline, there are exaggerated formations in the technical indicators. Following a strong breakthrough of the 26,100 resistance, aggressive short positions can be taken at the current price of 26,200. In summary, it is suggested to short on the rebound.

Pending orders:

Short at 26,400-26,500, with a 300-point stop loss, targeting 500-800 points.

2023.9.12 ETH———————

Ethereum's increase today is not as significant as Bitcoin's, so Qin Chuan directly states that today's Ethereum can be observed first. If Bitcoin can stabilize above the key level of 26,000, Ethereum will definitely have a follow-up surge, possibly reaching the 1,650 level. Based on the recent overall market conditions, Ethereum has been highly correlated with Bitcoin recently, so be cautious about the possibility of a follow-up surge in Ethereum. In summary, it is recommended to observe mainly, while aggressive traders can consider adding long positions. Stay defensive!

This article is exclusively created by senior analyst Qin Chuan, who has been studying Bitcoin, Ethereum, contracts, spot trading, gold, forex, 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 on capital management and risk control, and has a steady and decisive trading style. He is widely recognized by investment friends for his amiable and responsible character, as well as his decisive operations. 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 information are at your own risk. Investment carries risks, so be cautious when entering the market.

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