Zhou Yanling: Bitcoin Awaits Retracement for Long Position on September 23, and There Is Still Room for Ethereum to Rise
Sure enough, the price of the coin eventually fell near 65,000. Shorting in the short term is not a problem, and the overall bullish trend has not changed. Firstly, a brief period of decline does not represent a bearish trend. The current market situation requires a retreat and consolidation, but this is not a signal of trend reversal. In this super long-term bullish trend, too many "experts" believe that a price drop of 2000 to 3000 points indicates a trend reversal, which is a typical "extreme speculation" thinking pattern.
As for why the bullish trend remains strong, Yanling has mentioned many times before: expectations of interest rate cuts, war hedging, and the U.S. debt crisis are the three main factors driving hedging and overall positive market conditions. Are you stubbornly setting up medium to long-term short positions? I have always said it's for short-term shorts, bro! Secondly, in terms of trend continuation, the short-term approach is to go with the trend. Today, the coin price once again broke through 64,000 and reached near 65,000, which is a typical trend-following, upward oscillation, and breakthrough follow-up, indicating a breakthrough. But as Yanling mentioned in the previous two articles, a turnaround is inevitable at 65,000. Currently, the market is proceeding as expected. So, following the previous approach, after this round of retracement, we can once again start setting up long positions and wait for the bulls to exert force again.
Bitcoin Operation Strategy on September 23:
- Long at 62,800-63,200, stop loss below 61,300, target 64,500-65,000, continue to look for resistance near 66,000
- Short at 65,000-64,500, stop loss above 65,500, target 63,200-62,600
Ethereum Operation Strategy on September 23:
- Short at 2,700-2,670, stop loss above 2,730, target 2,610-2,570
- Long at 2,570-2,610, stop loss below 2,530, target 2,670-2,700, continue to look for resistance near 2,770-2,820
[The above analysis and strategies are for reference only. Please bear the risks on your own. The publication of the article may have delayed strategies and does not have 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 operations in the coin circle contracts/spots such as BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV. For more real-time community guidance, de-risking consultations, and chart reading skills, please follow the author's WeChat account: Zhou Yanling to find the author.
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