"September 15: Bitcoin rose slightly by 9% this week, Ethereum by 5% - after a short-term technical rebound, the market direction is a mystery!"
In the past week, the crypto market ushered in a short-term technical rebound, with Bitcoin and Ethereum recording increases of 9% and 5% respectively. This wave of rebound has undoubtedly injected some vitality into the market, breaking the previous continuous volatile trend. However, although the price has rebounded in the short term, the overall market is still full of uncertainty. Recently, the market has shown obvious long-short game, and buyers and sellers are waiting to see the future trend, resulting in the market being in a wash-out stage.
Bitcoin performed slightly stronger this week, with an increase of 9%, which once reawakened the market's expectations for a bull market. Ethereum followed suit and achieved a 5% increase. However, this rebound seems more like a technical correction, and no clear upward trend has been formed for the time being. The trading volume in the market increased slightly in the middle of this week, but then returned to normal, showing that investors are still cautious about the market outlook.
From a technical point of view, the recent rebound has not effectively broken through the key resistance level, indicating that the market has not yet found a clear direction. Although the short-selling force has weakened, the long-selling force is still weak and has not been able to completely change the market's volatile pattern. In the next few days, the trend of Bitcoin and Ethereum will become the focus of the market: will it continue to rise, break the volatile range, or pull back again under the pressure of short-selling? At present, the market direction is still a mystery.
In this long-short tug-of-war, investors should remain vigilant and pay close attention to market dynamics. If the trading volume continues to increase in the future, the market may usher in a clearer directional choice. Before that, it may be the best strategy to operate cautiously and wait for the market to become clearer.
