Preface: Investment involves risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: September 26, 15:13 Beijing time
Market Information
- SEC Chairman states that there will be strict investigations into conflicts of interest in the cryptocurrency field;
- Federal Reserve's Logan: The Federal Reserve should abandon the federal funds rate and switch to using Treasury bond collateral overnight rates;
- Federal Reserve's Goolsbee: Maintaining stable interest rates during rising inflation is equivalent to cutting rates;
- U.S. lawmakers state that Trump's executive order will promote Bitcoin's inclusion in 401(k) plans;
- Federal Reserve official Schmidt: Reserves may drop to about $2.6 trillion; Federal Reserve Governor Mulan: It is important to exit the tightening stance of monetary policy;
Market Review
Bitcoin and Ethereum have both seen declines in the past few days. Bitcoin's current low point is at 108,574, while Ethereum's current low point is around 3,822. Ethereum has broken below the 4,000 support level, and Bitcoin's short-term focus is on breaking the low point;
Market Analysis
Bitcoin:
Previously, we suggested that everyone short at around 112,500, with a stop loss near 114,000. The short-term high point for Bitcoin is at 113,895, which did not trigger the stop loss. Yesterday, it declined, reaching below the target of 110,000, and the short position performed as expected. Currently, the daily trend is not favorable for bulls, with a large bearish candle closing on the daily chart, and there has not been a lower shadow line testing the low point. In the future, we need to pay attention to the short-term low point of 107,211. If this level breaks, the next target to reach is around 100,000. In short-term trading, it is advisable to focus on short positions. We recommend entering around 113,000 for a short position, adding to the position at 114,500, with a stop loss at 115,500. The target is around 105,000. Please manage your entry opportunities; in short-term trading, control risks and manage your own profits and losses.
Ethereum:
From the weekly chart, Ethereum's previous support around 4,000 has been broken. After consolidating at high levels for so long, it broke the support yesterday. Previously, we made long positions around this support, with the highest rise only reaching about 4,200, yielding nearly a hundred points in profit. If you did not protect your position in time, you should exit with a stop loss. Currently, the market trend shows that Ethereum's key support has been broken, and the market will slowly begin to enter a bearish phase. In trading, it is advisable to focus on short positions. We recommend entering around 4,300, adding to the position at 4,400, with a stop loss at 4,500. The target is around 3,600. There is currently a space of 370 points above, and you can try a light long position in the short term. Please manage your entry; in short-term trading, control risks and manage your own profits and losses.
In summary:
The future trading of Bitcoin and Ethereum should focus on short positions;
The article is time-sensitive, pay attention to risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
In the cryptocurrency 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 transaction goes as planned. That is just noise in the pursuit of profit. Compared to pursuing 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 it up, cryptocurrency people.
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