Zhao Qinchuan: Continue to hold the short position from yesterday and look to buy on the intraday pullback.

CN
1 year ago

Market laws, twists and turns, reincarnation, internal cultivation of the mind, external cultivation of actions, the road ahead is long and far-reaching. 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.

2023.9.19 BTC——————

It was a pity for the short position layout of Bitcoin yesterday. Strictly speaking, it just touched the stop-loss position and then fell. Today, the daily chart meets yesterday's expectations, with an overall bullish divergence. The support below is at 26500-26100. In the short term, the situation on the four-hour chart continues to maintain an upward trend in the Boll channel, with the MACD bullish volume rapidly declining, and the KDJ fast line about to touch the 20 line. Overall, the four-hour chart maintains a view of a retracement to find support and continue to be bullish. The pressure on the hourly chart is still near 26900 as mentioned by Qin Chuan yesterday. Considering the above situation, it is recommended to go long on the intraday pullback.

BTC Chart

Pending order:

Long at 26600-26400, defend 300 points, target 500-1000 points

2023.9.19 ETH———————

The short position of Ethereum yesterday was quite perfect. The short position at 1650 can be steadily closed, or continue to hold and look for further decline. Today, Ethereum just stabilized at the Boll midline on the daily chart, and the chart indicators show a clear downward trend. Only by stabilizing above 1640 can the bullish trend on the daily chart be maintained, and the mindset must be clear. In the short term, Ethereum maintains a three-wave upward trend on the four-hour chart, and it needs to continue to stabilize above 1640 to reverse the trend. On the hourly chart, the Boll belongs to a oscillating market, with obvious pressure at 1640 and support at 1615. Considering the above situation, it is recommended to go long on the intraday pullback. The short position from yesterday can continue to be held.

ETH Chart

Pending order:

Long at 1610-1620, defend 30 points, target 1640 breakthrough

This article is exclusively created by senior analyst Qin Chuan. He has been researching in the investment field of Bitcoin, Ethereum, contracts, spot, gold, foreign exchange, stocks, etc. for many years. Currently, he mainly guides contract operations and has solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control. His operating style is steady and decisive, and he is recognized by a large number of investment friends for his amiable and responsible character and sharp and decisive operations. For more real-time investment strategies, trading techniques, operation skills, and candlestick knowledge, and more market information, follow the public account: Zhao Qin Chuan.

Qin Chuan

Disclaimer: The above analysis content only represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment is risky, and market entry requires caution.

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