Zhou Yanling: Seize the Short-term Rebound on 9.17 and Go Short at the Resistance Level
Yesterday, the market continued to maintain a weak trend, as expected. Today is the last day of the Mid-Autumn Festival holiday. The market has been in a corrective oscillation since last night, and the Asian market opened with a counterattack today. From the perspective of short-term indicators today, the MACD golden cross with increased volume is running, and the flexible indicator Stochastic is in the overbought zone, indicating a short-term bullish trend. At the same time, the current moving averages also show a bullish arrangement. It is important to focus on the support level around MA5 at 57500 during the day. Considering yesterday's trend, daily and 4-hour patterns, today's rebound strength still needs to pay attention to the resistance level near 59500, which was the second drop yesterday. If the bulls fail to push through this level today, it is expected to pull back again in the evening. Therefore, the short-term trading range today is between 57000-59500.
Bitcoin Trading Strategies on 9.17:
- Short at 59200-58700, stop loss above 59700, target 58000-57600
- Long at 57700-58200, stop loss below 57200, target 58500-59500
Ethereum Trading Strategies on 9.17:
- Long at 2270-2300, stop loss below 2240, target near 2340, continue to look for a breakthrough towards 2370-2400
- Short if 2340 is not broken, short at 2340-2320, stop loss above 2370, target 2280-2250
【The above analysis and strategies are for reference only. Please bear the risks on your own. The publication of the article may have a lag in strategy and does not have timeliness. Please refer to Yanling's real-time strategy 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 the operations of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contracts/spots. If you need to learn more about real-time community guidance, consultation on getting out of trouble, and chart reading skills, please follow the WeChat official account of the teacher: Zhou Yanling to find the teacher.
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