2024.9.3 Today's market analysis: ##btc ##eth

Yesterday's daily line closed with a bullish engulfing, and the bulls performed very strongly. Does this mean that the market will continue to rise next? I don't think so. If it means rising here, what are the three consecutive days of long upper shadows and long lower shadows of the previous daily line doing? It is obvious that it is a shock wash action. After the wash, the direction will appear, but after the middle Yin line appeared at the weekend, the market did not continue to fall, but reversed, which means that the market is still unmoved and remains volatile.

But one thing we can know is that the big market is coming!

In 1 hour, there are many lower shadows, and there is a bottom divergence when a new low is created. It continues. It finally rose yesterday, but it is definitely not possible to chase it here. We can only wait for the market to fall back and intervene in the trend. If it falls back to 58500-58800, or 57750-57850, consider going long. The upper side is 60150-60550, and short orders are considered under pressure.

For ETH, it is more obvious. The gap of 2475-2490 below is also the gap of the previous V-shaped reversal. There is a coincidence of resonance here. So after the false break below the tip of 2491, it is quickly recovered and you can consider going long. Otherwise, you have to wait for 2450-2460 to stabilize and consider going long. For shorting above, you can only expect the high point of 2564 to come again, forming a top divergence and then going down.

This week is a data week, which is very important. Be patient and wait for the direction to be established. Don't be anxious. Control your position well and keep enough capital to seize more opportunities.