Zhou Yanling: Bitcoin Slowly Rises on 9.27, Leading the Bulls - Can It Continue to Rise?
The more extreme the market, the simpler the analysis. There is no need for complex trend lines and structures because Bitcoin currently has no recognizable pattern. Almost all indicators show overbought conditions, yet it refuses to fall. Can it still have any reference significance? That being said, it has indeed been profitable to be bullish recently. In yesterday's article, Yanling suggested a long position for Bitcoin around 66000, and the surge to around 65800 in the latter part of the night was a good performance.
Since 66000 has been approached, the market has been mostly oscillating with retracements since last night. This is a relatively common tactic. For situations like this, where a breakthrough is imminent but followed by a normal decline and retracement, Yanling is willing to take a look at the range. You can observe the rhythm of the recent market, with most of it rebounding in the morning, then falling back, oscillating during the European session, and the American session repeatedly approaching the high point, before exploring higher again after 10 pm. As of today, the short-term space for back and forth trading is only about 500 points. Any range that has been traded will be quickly cleared. Therefore, at this critical moment, the best choice is to continue waiting for a retracement to a lower level before following the bulls again. So, for now, let's focus on short-term trading during the day and wait for the bulls to continue to gain strength in the evening.
9.27 Bitcoin Trading Strategy:
- Long at 64800-65200, stop loss below 64400, target 66600-67000
- Short at 67100-66700, stop loss above 67500, target 66000-65600
9.27 Ethereum Trading Strategy:
- Long at 2600-2630, stop loss below 2570, target 2700-2730
- Short at 2730-2700, stop loss above 2760, target 2650-2620
[The above analysis and strategies are for reference only. Please bear the risks on your own. The publication of the article may have a lag in strategy and does not have timeliness. Please refer to Yanling's real-time strategy for specific operations.]
This article is exclusively authored 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 the operations of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contracts/spots. If you need to know more about real-time community guidance, consultation on getting out of trouble, or learning chart reading skills, you can follow the author's WeChat account: Zhou Yanling to find the author.
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