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Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: September 12, 15:22 Beijing time
Market Information
- Coinbase's research director: The era of "easy money" in crypto treasury is over, which may benefit the crypto market;
- Hopes for interest rate cuts by the Federal Reserve conflict with concerns about stagflation, but cryptocurrency experts remain optimistic about Bitcoin's prospects;
- The U.S. Senate will vote on the Federal Reserve board nominee;
- International Monetary Fund: The Federal Reserve can gradually cut interest rates but must remain cautious;
- The Federal Reserve may cut rates four times before January next year;
Market Review
Bitcoin has been experiencing continuous fluctuations in recent days. Yesterday, influenced by CPI data, it effectively broke through the short-term resistance at 113,000, with the highest point currently around 116,280. Ethereum has been consolidating at the bottom, and it also saw a rise yesterday, with the current short-term peak around 4,562.
Market Analysis
Bitcoin
From the daily chart, Bitcoin has failed to effectively break through the 113,000 level after several rebounds, but it has not seen a significant decline either, maintaining a bottom consolidation. Last night, following the release of CPI data, the market surged, currently reaching around 116,000 and forming a long upper shadow. This resistance level is quite critical, as it is the 50% position between the high of 124,545 and the low of 107,211. Generally, such positions are key battlegrounds for bulls and bears. Additionally, the daily trend is showing a tendency to form an upper shadow. Previously, when Bitcoin was fluctuating at high levels, this area served as a support level in a dense trading zone, which has now turned into resistance. In trading, we can focus on this point for short positions, recommending an entry around 115,500, adding to positions at 116,500, with a stop loss at 117,500 and a target range of 111,000-110,000. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
Ethereum
From the daily chart, Ethereum has not had the opportunity to form an upper shadow. After a long period of bottom consolidation around support, it has begun to rebound. Ethereum has not yet reached the 505 position of the 4957-4205 retracement. There is still some room for short-term movement above. Shorting Ethereum requires a bit more patience, with recommended entry points around 4,700. After entering, set a stop loss at 4,800, targeting the range of 4,430-4,330. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
In summary:
Bitcoin is under short-term pressure, while Ethereum needs to rebound before making a correction.
The article is time-sensitive; please be aware of the risks. The above is only personal advice and for reference!
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In the crypto world, some people's demands can only be met by scammers. Everything cheap must be taken advantage of by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every market movement is favorable, and not every trade is successful. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I pay more attention to psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, crypto community.
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