Market laws, twists and turns, cycles of change, internal cultivation, external practice, 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 history of learning and growth. The journey may be arduous, but don't forget the original intention, and you will eventually succeed.
2024.9.3 BTC————————
After Bitcoin rebounded from the bottom, it began to oscillate sideways, and the price once again reached the consolidation and absorption phase around 59000. A bullish engulfing candlestick pattern formed on the daily chart, and the key focus is whether the price can break through the 59600 level to complete the reversal of the long and short trends. Otherwise, the price will continue to oscillate. In the short term, the price on the four-hour chart is within the Bollinger Bands' upward channel, with the short-term support level around 58500, and the upper resistance level can still be referenced at around 59600. On the hourly chart, the overall price and the MACD volume show signs of bearish divergence, and the price may test the support level around 58400 in the future. Therefore, after the morning session, the price is expected to rise and then fall to find new support. In summary, it is suggested to remain cautious and continue to short Bitcoin.
Pending Order:
Short at 59800-59600, with a 300-point stop loss, and a target of 500-600 points or more
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
2024.9.3 ETH————————
For Ethereum, the focus on the daily chart is the range of 2580-2600. A bullish engulfing candlestick pattern formed on the daily chart, but it should not be hastily assumed that a bullish trend is forming or has been established. The key focus in the future is whether the price can stay above the psychological barrier of 2600. In the short term, the Bollinger Bands are widening on the four-hour chart, and the short-term support is suggested to be around 2520-2500, with the upper resistance level at 2560. In the short term, it is advisable to cautiously attempt long positions at 2520-2500. On the hourly chart, the price has started to show signs of bearish divergence at the high level, so the current retracement after the rally is a normal corrective market. In conclusion, it is suggested to mainly short Ethereum in the future.
Pending Order:
Short at 2580-2600, with a 30-point stop loss, and a target of 40-60 points or more
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
This article is exclusively written by senior analyst Qin Chuan. He has been researching the investment field of Bitcoin, Ethereum, contracts, spot trading, gold, forex, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He is adept at 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 the majority of 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 of candlestick charts, please 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 carries risks, so please be cautious when entering the market.
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