Weekly:
After stopping the decline last week, the market situation last week was in line with the expected trend, gradually approaching the upper line of the parallel channel. Last week's closing line was a positive line with shrinking volume. There is no signal of stagflation at present, and we can observe at a smaller level to judge the subsequent upward momentum.
Daily Line:
After the adjustment of the pregnancy line on September 14, a signal of stopping the decline appeared with large volume, which appeared near the important support level of 58,000. It gradually broke through the recent downward trend line and broke through the pressure range near 62,700 (observe whether this 62,700 support range stops falling). In the past few days, the daily closing bullish volume has weakened significantly, and there is a need for shock adjustment. As long as it stands firmly above 60,000 and the closing line does not fall below this range, the upward trend will continue in the future. At present, it is suppressed in the pressure range near 65,000. There is a high probability that the upper chips will be consumed through shock consolidation.
Summarize:
The weekly level is in the process of transition from the early bull market to the mid-term bull market. It is still running within a parallel channel and is gradually approaching the heavy pressure area near 69,000 above. Therefore, we will observe whether there will be a reversal signal after approaching the heavy pressure area, or directly break through the heavy pressure range.
The daily level is in an upward trend and has broken through the 62,700 pressure zone. There is currently a need for adjustment. We will observe whether it will return to the downward trend line support zone and whether a stop-loss signal will appear. If a signal appears, the small cycle adjustment will end and the upward trend will continue.
The interest rate cut cycle has begun. The market sentiment for the copycat market is relatively relaxed, and the real copycat season is often only about two months. Now most of the copycats are in the process of bottoming out. Some strong ones have broken through the bottom range and started to stretch. The bottoming time period is also coming to an end, and the waiting time will not be long.
BTC
From the 4-hour chart, after a round of unilateral upward trend, the market did not continue to rise. After reaching the high point of 64,000, it began to fall back. The current decline momentum is not particularly obvious, and it is only in the repair stage.
It has been said many times before that the market will not always be one-sided. Every time it goes one-sided, there will always be a stage of sideways consolidation, which is also what we often call the trend of trading time for space. And in terms of the overall trend, the bears also have great momentum for a counterattack. Therefore, for intraday operations, it is recommended to watch the volatility and catch the high-selling and low-buying operations in the afternoon.
ETH
Ethereum surged in the morning and then fell back. After a slight rebound, the price broke through the short-term pressure of 2600 and stabilized. It is currently trading around 2600. From the short-term hourly chart, bullish sentiment has slightly warmed up, with many consecutive positive candlesticks and prices approaching resistance. Conservative friends can pay attention to the pressure at 2700, with the key pressure at 2810. If the rebound weakens and fails to break through the stabilization area, the gains are expected to be waived and the price is expected to fall again. $BTC $ETH
