Trader Chen Shu: Bitcoin and Ethereum Market Strategies for 9.19 Noon*1, Pay attention to the interest rate cut and focus on the range breaking operation.
Summary of the article on the evening of September 18th: Yesterday evening, a long position at 5.9 was suggested, and the price dropped to near 59100 at its lowest. Those who followed the article for a long position would have gained, with a sustained rise to the high point of 6.25. At the same time, a short position strategy for the 6.25-6.4 range was also suggested last night. The overall trend prediction was correct. Currently, there is a short-term high consolidation, and the following analysis will show how to operate next.
Looking at the daily chart of Bitcoin, after the bullish pull following the interest rate cut, the price is now approaching the daily MA120 moving average (6.25) resistance level. The overall market strength and weakness now need to focus on the breakthrough situation of the price range between MA256 and MA120, i.e., the 6.03-6.25 price range. If the strong market trend continues, then the short-term uptrend will continue to test the 6.4-6.5 previous high range. At the same time, this line is also the weekly K-line MA30 moving average suppression level. If the price completely falls below the 60,000 mark in a pullback, then the recent bullish rise will come to an end, entering a pullback phase. In short-term trading, first focus on the breakthrough situation of this range.
As for Ethereum, the short-term sudden strength is maintaining a high position and continuously breaking the short-term high points. Looking at the daily chart, the price is now approaching the MA30 moving average, i.e., the 2460 level. When encountering resistance at this level, consider a light short position, maintaining the strategy mindset from yesterday's article. On the 4-hour level, the pressure is first seen at MA256, i.e., the 2510 level.
Midday strategy suggestion: BTC: Light long position at 6.1-07, target near 6.2, reduce position upon breakthrough and hold for a target of 6.3; The 6.25-6.4 range can still be prepared for a light short position for medium-term or wait for my prompt. ETH: Light long position at 2380-2400, target range of 2480-2520; Light short position at 2460, add to short position at 2520 on rebound, target near 2400.
The daily analysis strategy has a very high success rate! Analysis is not easy, I hope everyone can give a free follow, favorite, like, and comment, thank you. Welcome everyone to discuss in the comments below, I will reply to each one!
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