Zhou Yanling: Be cautious about adding long positions on 9.22 to prevent a reversal and a washout of longs! The latest operating strategy has been updated

The price of the coin has been slowly rising and not looking back, causing significant damage to the bearish sentiment. How should one operate in this situation?

Although the interest rate cut exceeded expectations, the main force is very cunning. After the interest rate cut landed, there was a wave of suppression before the rise. The market sentiment was led into a bear market by technical means. However, the straight rise without any retracement is the true realization of the impact of the interest rate cut. Therefore, the price of the coin briefly fell after the interest rate cut landed and then rose directly without any retracement. The global anticipation of the U.S. dollar interest rate cut has landed, but it does not mark the beginning of easing geopolitical crises and economic downturn. On the contrary, it has intensified the tense situation, leading to a continued rise in the price of the coin. Under the dual expectations of hedging and inflation, the price of the coin has risen even more sharply. These are the reasons for the recent continuous rise in the price of the coin.

So, how should we respond next? In fact, it is not difficult to find that the price of the coin has been rising continuously since breaking through 61500, which is a standard bullish trend. The price of the coin is running above the moving average, and the moving average is diverging. Now, what we need to focus on is when the next acceleration of the price of the coin will occur, which could be a signal of a reversal. Currently, from a technical analysis perspective, Yanling believes that there will be a short-term situation of a large bearish candlestick to lure short positions, and then there will be a rapid rise in large bullish candlesticks. Once this situation truly emerges next week, it will still be undoubtedly bullish afterwards. Therefore, at this current position in the short term, Yanling does not recommend blindly adding long positions. Either you can take a small short position, or you can stay steady and wait for the opportunity to add positions during the next acceleration.

Bitcoin operating strategy on 9.22:

1. Short at 63700-63300, stop loss above 64200, target 62500-62000
2. Long at 61800-62400, stop loss below 61300, target 63200-63800, continue to look for a rise towards 65100

Ethereum operating strategy on 9.22:

1. Long at 2530-2560, stop loss below 2500, target 2660-2690, continue to look for a breakthrough towards 2740
2. Short at 2630-2600, stop loss above 2660, target 2540-2510

【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. Specific operations should be based on Yanling's real-time strategies】

This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding operations in the coin circle contracts/spots such as BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, etc. If you need to understand more real-time community guidance, consultation on getting out of a predicament, learning chart reading skills, etc., you can follow the teacher's public account: Zhou Yanling to find the teacher

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