Coin Circle Liying: Technical Analysis of Bitcoin on 9.26: Short-term Retracement Pressure and Rebound Opportunities Coexist! Latest Market Analysis

Article Release Time: 2024.9.26----07:40

Looking back at the market, the long and short strategies for Bitcoin were as expected yesterday. Although the long position at 64000 only had a space of 600 points to 64600, it was a good point to take profit. However, the short position at 64600 and taking profit at 63000 gained 1600 points, totaling a great 2200 points. Currently, Bitcoin is testing the support level below. So, how should one position at this point? Let's see Liying's analysis.

Currently, the candlestick pattern on the daily chart shows oscillation at a high level, with a large bearish candle on the 25th, indicating that the market is digesting the previous momentum. On the hourly chart, the price has fluctuated dramatically in the past few hours, touching the support near 63000 multiple times. The MACD on the hourly chart is in negative territory, with both DIF and DEA diverging downwards, indicating a potential further weakening in the short term. The MACD on the daily chart also shows a bearish trend. The RSI on the hourly chart is close to oversold territory at 38.5, indicating a demand for rebound. The RSI on the daily chart is neutral to weak.

Trend indicators: The EMA on the hourly chart shows a bearish arrangement of EMA7, 30, and 120, and the price has been rejected by EMA7 multiple times. The EMA system on the daily chart still maintains a bullish trend, but there is clear short-term retracement pressure. Therefore, Liying suggests that long positions can be established near the support level, with proper risk management.

Today's reference points: Trend (upward)

Long at 63000, defend at 62000, stop loss at 61500, target at 64500

Short at 65000, defend at 66000, stop loss at 66500, target at 64000

Reasoning: Short at the previous high point, set up defense and stop loss, and long at key support. Risk management comes first, trading comes second. Only in this way can one find a foothold in the market and befriend the trend while being an enemy to oneself.

The content of the article is time-sensitive and is for reference only. Trade at your own risk.

The above analysis by Liying is based on market data and trend analysis of the market, and is for reference only. It does not constitute investment advice. For the reference of fellow traders. Over the past decade, Liying has continuously explored and experienced hundreds of different types of digital assets. In this process, Liying has experienced the brilliance of bull markets and the dimness of bear markets, accumulating numerous valuable experiences and profound lessons. As a female trader who has been striving in this challenging field, Liying feels a responsibility to share her insights and hopes to help others with dreams to find their position in this unpredictable market and embark on their own journey to success.

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