Cryptocurrency Academician: Does the double bearish engulfing pattern on Bitcoin on September 20 indicate a cliff dive? Can Ethereum defend the last line of defense for the bulls? Latest market analysis and operational advice.

CN
6 hours ago

The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from the crypto circle academicians may not make you rich overnight, they can help you stay in the game. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand this.

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Bitcoin (BTC)

The current price of Bitcoin is 115,900. It is now 1 AM Beijing time. Before this report, Bitcoin reached a high of 117,460, where bearish signals appeared. The short-term peak is valid, with a daily double bearish engulfing pattern, which is a typical bearish indicator. The EMA15 trend line supports at 114,800, and the mid-term support to watch is the Bollinger Band middle line at 113,300. The four-hour candlestick is blocked by the EMA60 support at 115,400. If it cannot effectively break down in the short term, the weekend market will likely oscillate around 116,000. Especially after the four-hour candlestick reached the Bollinger Band lower support at 115,500, the support is evident. The mid-line resistance is not strong. Focus on the Bollinger Band upper resistance at 117,830, where you can consider trying a short position. The current strategy is mainly for a short-term rebound.

Short-term reference:

For a downward move, reference 117,000 to 117,500, with a stop-loss at 118,000, a stop-loss of 500 points, and a target of 116,500 to 116,000. If it breaks, look at 115,500.

For an upward move, reference 115,500 to 115,000, with a stop-loss at 114,500, a stop-loss of 500 points, and a target of 116,000 to 116,500. If it breaks, look at 117,000.

Ethereum (ETH)

The current price of Ethereum is 4,470. It is now 1 AM Beijing time. Before this report, the daily candlestick of Ethereum reached a high of 4,620, but the bullish momentum failed. The main force sold at high levels, and the daily line broke below the EMA15 line at 4,495. The next support to watch is 4,411. As long as the bulls hold above 4,400, they can maintain their positions. If it breaks, they need to consider exiting. The daily candlestick is also blocked by the Bollinger Band middle line at 4,435. If the short-term support holds, you can try a long position, but manage your risks well. The four-hour candlestick has reached the Bollinger Band bottom support at 4,440 and the EMA120 trend line at 4,465. A short-term rebound is expected. For those looking to go long, pay attention to the upper resistance levels at 4,535 and 4,600. This indicates that the main force has reached a critical support area. Now it depends on whether it can break the support and continue the bearish trend. Don't force the market; be prepared for both outcomes. If you're right, hold; if you're wrong, admit it.

Short-term reference:

If the lower level of 4,440 to 4,400 breaks, go short with a stop-loss of 40 points, targeting 4,350 to 4,300. If it breaks, look at 4,250.

If the lower level of 4,440 to 4,400 does not break, go long with a stop-loss of 40 points, targeting 4,500 to 4,550. If it breaks, look at 4,600.

Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, so the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the crypto circle academician and represents the unique views of the academician. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions may not be real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Don't let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond to it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-loss and take-profit for each trade. The crypto circle academician wishes you happy investing!

Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.

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