Trader Chen Shu: Bitcoin and Ethereum market strategy for the afternoon of September 26th *1, waiting for a breakout of the narrow range oscillation.

CN
1 day ago

Summary of the article at noon on September 25th: The article provided trading ideas for both long and short positions, and both sides had opportunities to enter and exit the market with profit potential. The overall trend prediction was correct. Congratulations to friends who followed the article's range operations. Currently, the market continues to maintain narrow fluctuations. Please see my analysis below for how to operate next.

Looking at the daily chart of Bitcoin, the overall price is still above the MA5/10 moving average, while the MA120 moving average continues to move downward. From the 12-hour chart, the recent low points of the past week have all stopped falling around the MA256 moving average (June 27), which has been tested several times. This support level needs to be closely monitored. The upper resistance level is still the weekly MA30 moving average (June 4). The overall trend remains in the range of 6.45-6.27 for consolidation. First, pay attention to the breakthrough situation in this range. The bulls can only be considered to have successfully broken through if they stabilize above 6.4.

As for Ethereum, the daily chart retraced to the MA60 moving average (2585) yesterday, and is currently back above this level. The next resistance level for a rebound is the 6-hour MA256 moving average, around 2640. As analyzed yesterday, first pay attention to the breakthrough and stabilization above 2640, and continue to treat the range of 2580-2650.

Midday suggestions:

BTC: Light long positions near the 6.34-6.3 range, with a target of around 1000 points; consider light short positions near 6.5, with a similar target of around 1000 points.

ETH: Treat the range of 2580-2650 with high selling and low buying, and pay attention to the breakthrough situation within the range.

Note: From the weekly chart, Bitcoin continues to be suppressed by the MA30 moving average (June 4) and is unable to break through and stabilize. The trading week is about to end, and the weekly chart shows relatively small upper and lower shadows. If it continues to be unable to break through, be cautious of the price starting a new round of retracement from this level.

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

For real-time market strategy discussions, you can click on my profile to see the introduction. I am the top KOL in the original (Coin World) ranking, providing free guidance and answering trading questions in real accounts. Welcome to communicate and exchange ideas!

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