The future is unknown, and because of this, life always has many surprises, but there are also many disappointments. Investing is no different; a single candlestick can change a lot. Many irrational investors want to achieve success overnight, but most results are unsatisfactory, ultimately due to a lack of risk control.
Hello everyone, I am trader Gege. The highlight of this month is the interest rate meeting on September 18. The previous non-farm payrolls and CPI are just appetizers; the outcome of the meeting also concerns Trump's "face," and the market will definitely respond positively. Once the interest rate cut is confirmed, the market may become even more volatile. Let's briefly discuss the current market from a technical perspective.
The monthly candlestick pattern of Bitcoin does not look good. Before the interest rate cut is confirmed, we cannot rule out a continuous bullish trap, and there may even be a "heaven and earth needle" candlestick. After three consecutive bearish weeks, the weekly chart found support at the middle Bollinger Band, rebounding to close positively. This week, it continues to test the MA7 upward, but has not yet broken through. Although the daily candlestick has rebounded above the middle Bollinger Band, there has not been a strong bullish surge. The key resistance above is around 116,000, which is also the upper Bollinger Band and MA60. Only after breaking and stabilizing above this level can we welcome a short-term rebound.
The monthly chart of Ethereum is showing a strong bullish candlestick, but it is currently under pressure from the upper Bollinger Band. On the weekly chart, it found support at the MA7, and now we need to see if it can break through the resistance. The two consecutive bearish candlesticks are not friendly for bulls. The daily candlestick is oscillating in a straight line, and as time goes on, it indicates that a turning point is about to appear. This structure is excellent for short-term enthusiasts, allowing for back-and-forth trading along the upper and lower edges of the range. However, the closer we get to the end of the oscillation, the more cautious we need to be; those who understand know. Personally, I only like the first half of the trend; for the second half, I either do not participate or wait for a breakout.
In summary, I, Gege, am optimistic about a bullish trend before the interest rate cut, so the short-term strategy is as follows:
Bitcoin short-term: Buy at 111,300-110,800, target 113,300, and if it breaks, look for 115,000.
Ethereum short-term: Buy at 4,280-4,240, target 4,450-4,480, and if it breaks 4,500, continue to look for 4,600.
The suggestions are for reference only. Please ensure proper risk control when entering the market, and manage your profit and stop-loss levels accordingly. Specific strategies should be based on real-time conditions, and you can consult for more details.
Alright, friends, we will say goodbye until next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time advice will be sent internally. Today's brief update ends here. For more real-time advice on Bitcoin and Ethereum, find Gege.
Written by / I am trader Gege, a friend willing to help you rise again.
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