Technology is getting simpler, and the mindset is gradually becoming simpler. Now is the time to wait, to dare to pursue, to dare to stop loss, and to make a profit. The process of implementing the rules of the currency market is also a process of convincing oneself, constantly persuading oneself to become better. The cultivation of human nature begins with stop-loss and take-profit. Willing to accept losses and confidently win. Making trades is a process of solving various psychological barriers brought by investment and reshaping one's behavior.

Market Review:

Yesterday, the price of Bitcoin rebounded slightly in the morning after falling to around 25988, but instead of stabilizing, it quickly fell back and underwent oscillation and repair. In the afternoon, the market began to oscillate upwards, reaching a high point near 26580 in the evening before encountering resistance and falling back. Currently, the market is oscillating around 25950. After the sharp rise yesterday, it engulfed the selling pressure from the previous day and the coin price once again returned to the previous oscillation area. The recent market is still running around in oscillation, with both upward surges and retracements. However, any breakthrough is due to various news developments. We believe that these are false breakthroughs. No matter how much movement there is, it will still return to the starting point. Currently, it is crucial to focus on the long-short watershed around 25000. If this level is not broken, there should not be too much expectation of a decline. Panic selling is unlikely to continue, and it is very likely to repeat the pattern and continue to return to the oscillation zone. Let's take a look at the market situation next!

Market Analysis:

The 4-hour Bollinger Bands are running in a state of opening and flattening, with the K-line not effectively stabilizing after the five consecutive upward movements, but quickly retracing and forming a long upper shadow line. It can be seen that the area around 26500 is a short-term pressure testing zone. Although the coin price is above the middle track, the bulls have shown signs of weakness. The MACD indicator in the attached image shows a crossover of the two lines, with the energy column continuing to run in a shrinking volume, and the KDJ three lines crossing downwards, indicating that there will be a short-term downward trend for Bitcoin. The 1-hour chart shows the K-line traveling in the middle-lower track area, with a narrowing gap, and the bottom space is not so ample, so it is likely that the low point for today will be around 25760. The MACD indicator in the attached image is showing increasing volume, but the downward trend is also continuously compressing. At the same time, pay attention to the impact of tonight's U.S. CPI announcement on the market. Personally, I am bullish, with attention to the resistance at 26500, and the overall rhythm is to operate around high short and low long.

Trading Suggestions: (Published on: 2023.9.13 12.30)

BTC: Long in the range of 25400-25800, target 26500 (Short if it does not break 26500)

ETH: Long in the range of 1580-1560, target 1620 (Short if it does not break 1620)

Disclaimer:

The market changes rapidly, and the market fluctuates quickly. Personal opinions and suggestions are not real-time and are for reference only. If there are no positions, wait on the sidelines. For friends who are uncertain about entry points, you can follow the public account below to get real-time entry points based on the market situation.

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