Trader Chen Shu: Bitcoin and Ethereum Market Strategy in the Early Morning of September 18th, What's the Intention of the Rise Before the Interest Rate Cut?

Summary of the article on the evening of September 17th: Yesterday evening, the strategy of shorting first and then going long was given. After breaking through and stabilizing at 5.9, a long position was taken in line with the market trend, which was basically consistent with the analysis in the article. Additionally, a long position was given at the current price of 5.85 at noon yesterday. The rise in the American session was as expected, but the pullback before the rise was relatively limited. However, the overall strategy still yielded results. Currently, after Bitcoin's price broke through 60,000, please see my analysis below for the next steps.

Looking at the daily chart of Bitcoin, after the rise in the evening, the price has already broken through the MA256/60-day moving average pressure. Whether it can stabilize above this line is still unknown. If it can stabilize above 6.05, then in the short term, there may be another rebound to test the MA120-day moving average (62,600). Looking at the 4-hour chart, the current price has broken through the MA256-day moving average with a large bullish candle, indicating strong short-term bullishness. However, this strength needs to be maintained above 60,000. As for the interest rate cut in the early hours of Thursday, it is still unknown what kind of impact it will have on the price. The current strategy needs to be prepared to short more cautiously, whether it is due to the expectation of an interest rate cut or from a technical perspective, the 63,000-65,000 range is worth shorting for a pullback.

As for Ethereum, it is still relatively weak in the short term. After rebounding to the 2400 level, the price started to decline. This level is the MA256-day moving average pressure on the 4-hour chart. First, focus on whether the 2400 pressure can be broken through and stabilized, and try to take a short position on the rebound. Currently, it does not have the conditions for a significant rise, so it should maintain synchronous operations with Bitcoin.

Operational strategy suggestions:

BTC/ETH: Wait for the extent of the bullishness after the interest rate cut tomorrow, see how high the rebound can go, and prepare to short in batches in the 62,000-64,000 range or establish medium-term short positions. For long positions, consider lightly entering long positions near 60,000/5.9 on a pullback, with the target being around 6.25, taking advantage of the positive impact of the interest rate cut. Due to the data-driven market, it is not possible to accurately pinpoint the positions. If the interest rate cut meets expectations, excluding the black swan result of a non-25 basis point interest rate cut, the extent of the bullishness will be relatively limited, and a significant decline may follow. The data-driven market is highly volatile, and it is expected to experience a high rise and fall. Pay attention to trading risks.

The daily analysis strategy has a very high success rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment, thank you. Welcome everyone to discuss in the comments below, and I will reply to each one!

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