Zhou Yanling: Bitcoin Long and Short Watershed at 55500, Ethereum Gathers Momentum, Bulls Are Expected

Since you are aware that market sentiment is fluctuating, you should understand how difficult it is to see a major breakthrough in the current stage for Bitcoin. The price breaking through 55500 last night marked a transitional change. Seizing the opportunity to go long immediately with the trend is not only a trend choice, but also a smart trading option. I had been firmly bearish during the day yesterday, but until the evening, the market did not show much decline, which made me realize the need to change my mindset. Obviously, this kind of market rhythm is not what we should expect on a Monday. Fortunately, Yanling's change was timely, and the subsequent bullish trend was also accurately predicted.

Currently, the price of Bitcoin is oscillating around 56500, with resistance at 57000 suppressing it in the short term. It's okay, just after a surge, oscillating and consolidating for a while is very normal. As long as this pullback does not break the key support level of 55500, it is expected that the upward trend will continue on Tuesday. Therefore, friends who still hold long positions should continue to hold and observe the strength around 57000. I have also mentioned before that from a short-term perspective, any high-level consolidation or oscillation and decline are preparing for a further rebound in the future. Therefore, for the beginning of this week, we will continue to wait and see in the range of 54400-58500, waiting for stabilization before attempting to break through 58500. Once the daily and hourly candles break through, we can consider continuing to follow the next strong trend.

Bitcoin Trading Strategy on 9.10:

1. Long at 55800-56300, stop loss below 55300, target 57000-57500, continue to look for a breakthrough near 58300
2. Short at 58500-58000, stop loss above 58900, target near 57400-56900

Ethereum Trading Strategy on 9.10:

1. Long at 2300-2330, stop loss below 2260, target 2390-2420, continue to look for a breakthrough near 2500
2. Short at 2420-2390, stop loss above 2460, target near 2320

[The above analysis and strategies are for reference only. Please bear the risks on your own. The article's review and publication may have delayed strategies and lack timeliness. Please refer to Yanling's real-time strategies for specific operations.]

This article is exclusively created and shared by senior analyst Zhou Yanling (WeChat: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contract/spot operations. If you need to understand more real-time community guidance, consultation on getting out of trouble, or learn about market analysis skills, you can follow the teacher's WeChat public account: Zhou Yanling to find the teacher.

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