Action is the ladder to success. The more action you take, the higher you climb. The trading market in September is hot, seize the great market opportunities and profits in September and October. May we all strive to be calm, kind, and keep a smile on our faces and happiness in our hearts!

Bitcoin experienced fluctuations yesterday, with a large range between 26900-27500, providing nearly $600 of space. Currently, the price is oscillating around 27200, still showing a strong trend. It is expected to close higher on Tuesday and is currently standing above the 5, 10, and 20-day moving averages. Therefore, Bitcoin is still considered to be in a strong position. This week will also welcome data trends, with the midnight announcement of the Federal Reserve interest rate today. Therefore, in the current strong market, it is advisable to refer to data for trading decisions.

From a technical perspective, the 4-hour bullish trend support is around the 26900 area, and the price did not break below this range yesterday, indicating an extension of the 4-hour bullish trend, with the potential for prices to continue to rise above 27500. As long as 26900 is not broken, the downside potential will not open up. Before the interest rate decision, it is difficult for the price to break through the 27500-27400 range. It is recommended to position for longs during the day session and pay close attention to the direction after the data is released.

If it breaks through 27500, continue to pull back and buy at a lower price to target above 28000. If it falls below 27000, look for a lower position to buy and target around 27500. Oscillate during the day session and position around the data during the US session. The intraday bottom support is around 26900, and it is recommended to focus on long positions around this level.

Bitcoin

Direction bias: Long

Reference level: Long at 26900-27000 in the short term

Defense level: Single loss within 8% combined with position

Target level: Targeting $500-1000-1500 in batches for profit-taking

For more questions, follow Lao Feng's WeChat public account: Lao Feng Shuo Bi

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