Preface: Investment carries 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 8, 14:56 Beijing time
Market Information
- Nasdaq plans to strengthen regulation of financing activities related to crypto assets;
- Trump: Ready to implement the second phase of sanctions against Russia;
- U.S. Treasury Secretary says Trump's criticism of the Federal Reserve's slow actions is correct;
- The probability of a 25 basis point rate cut by the Federal Reserve in September is 89%;
- Over $160 million has flowed out of the U.S. spot BTC ETF market;
Market Review
The weekend saw a mainly volatile trend, with Bitcoin slightly rising due to non-farm data, reaching a peak of 113344, followed by a decline, with a low point at 109850. Ethereum rose to a high of 4494, with a short-term pullback low at 4220;
Market Analysis
Bitcoin
The market has been in a state of fluctuation during this period. I wonder if everyone is still holding onto the short positions in Bitcoin that we previously set up. For those who continue to hold, the stop loss at 113500 has not been triggered, and the target of 107000 has not been reached either. Friends who are holding can continue to do so, while those who have exited should wait for opportunities. On the daily chart, Bitcoin previously found support around 113000, which has now turned into resistance. After several short-term rises to around 113000, it has stalled, indicating effective short-term pressure. Currently, both the monthly and weekly charts show bearish trends, and the daily chart is under pressure. In trading, focus on positioning around the 113000 resistance area. The previous short positions around 11100-112000 can still be held, while those with no positions can consider entering around 112000, with a stop loss still at around 113500 and a target of 117000-116000. The strategy has not changed significantly; the market is just moving slowly. Maintain patience in trading and seize entry opportunities; for short-term trading, control risks and manage profits and losses independently;
Ethereum
The trend of Ethereum is relatively small, with support around 4250 holding firm. There is also an important support point at 4000. The market has not provided any rebound opportunities, oscillating around 4250. Ethereum needs to wait for a breakout. In trading, follow Bitcoin for short positions, with a focus on defending around 4000. It is recommended to enter around 4500, with a stop loss at 4600 and a target in the 4200-4100 range. Seize entry opportunities independently; for short-term trading, control risks and manage profits and losses independently;
In summary:
The short-term trends of Bitcoin and Ethereum are mainly fluctuating, and no breakout has occurred. Maintain a bearish trading mindset;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
In the crypto 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 trade goes as planned. That is just noise in the pursuit of profit. Compared to seeking breakthroughs in technology, I pay more attention to psychological development. Most people do not fail because of themselves, but because they are trapped by themselves 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, crypto community.
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