Recently, the market has been like this; every weekend it oscillates and can't break out of the range. Well, I've gotten used to it, after all, there has been so much turmoil from Monday to Friday, the weekend should at least be a bit quieter. This week, with continuous declines refreshing the lows, many bulls have developed a sense of fear. Each pullback has been a sudden drop without warning, clearly a washout, no need to say more. However, after the National Day holiday, it is expected that this wave of correction will basically come to an end, and the next step will be to enter rebound mode. The bulls have been largely wiped out, and it should return to the right track.
From the current price action of Bitcoin, the daily chart shows that the price has been oscillating at a high level recently. After a large bearish candle appeared on September 25, there was a slight rebound for two consecutive days, but the strength was weak. The hourly chart shows a narrow consolidation trend, with the current price fluctuating around the 109300-109700 range, with balanced long and short forces. The technical indicator MACD on the hourly chart shows that both DIF and DEA are below the zero axis, and the histogram is shortening, indicating that bearish momentum is weakening but has not yet turned strong. The hourly RSI is at 46.17, close to the neutral zone, with no obvious overbought or oversold signals in the short term. The price is currently hovering near EMA7, constrained by EMA30, overall leaning towards weakness; EMA120 is far from the current price, and the short-term trend remains bearish. Weekend operations can continue to treat it as oscillation, with back-and-forth trading.
Zhou Yanling's 9.28 Bitcoin Trading Strategy:
Short at 110200-109500, stop loss above 111200, target around 108500.
Long at 108500-109000, stop loss below 107500, target 109700-110200.
Zhou Yanling's 9.28 Ethereum Trading Strategy:
Short at 4070-4040, stop loss below 4110, target around 3970.
Long at 3970-4000, stop loss below 3930, target 4040-4070.
【The above analysis and strategies are for reference only. Please bear the risk yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. He has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, focuses on capital management and risk control, and has a stable and decisive trading style, recognized by many investment friends for his easygoing and responsible character along with sharp and decisive operations.
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