Zhou Yanling: Forecast and Analysis of Next Week's Market Trends and Solutions
This week, the cryptocurrency market once again showed strong bullish performance. It is not difficult to find that in the environment of interest rate cuts, the attractiveness of Bitcoin as an interest-free asset has significantly increased. The lower interest rates have weakened the opportunity cost of Bitcoin, reigniting investors' interest in the cryptocurrency market. In September alone, Bitcoin has risen by 14,000 points, reflecting the strong investment interest in the market. In addition, the global economic uncertainty has also provided support to the cryptocurrency market. The tension in the Middle East and the uncertainty of the US presidential election have increased the market's demand for safe-haven assets, further driving up the prices. Looking ahead to next week, there will be some important data releases, with the most prominent being the upcoming US non-farm payroll report. This report will provide investors with important information about the health of the US economy, which could impact the future policy direction of the Federal Reserve. Therefore, the focus in the coming week will continue to be on the non-farm payroll data.
From a technical perspective, the price of cryptocurrencies has maintained a steady and slow upward trend this week, without significant surges. In the past few days, it has oscillated and retraced below the 66500 level, leaving the trend for next week uncertain. The 10-day moving average on the daily chart is currently a watershed for the bulls. If next week, in conjunction with the National Day holiday and the non-farm payroll report, the price unexpectedly falls below this level, then the 66500 mark will become a phase top. Otherwise, there will still be new highs in the market. Therefore, attention should be closely paid to this level. As time passes, the price will gradually decline, but as long as strong support remains, the bull market will continue. After oscillating for a day yesterday, it is expected to continue the oscillation today, with limited room for movement. However, such a market is actually easier to operate. I won't say much more, and will directly provide specific position strategies below.
Bitcoin Trading Strategies on 9.29:
Long at 65100-65600, stop loss below 64600, target 66200-66500, with further upward movement towards 67300.
Light short at 66300-65900, stop loss above 66800, target 65300-64800.
Ethereum Trading Strategies on 9.29:
Short at 2700-2670, stop loss above 2730, target 2640-2610, with further decline towards 2565.
Long at 2610-2640, stop loss below 2580, target 2680-2720, with further upward movement towards 2805.
【The above analysis and strategies are for reference only. Please bear the risks on your own. The publication of the article may cause a lag in the strategies and may not be timely. Please refer to Yanling's real-time strategies for specific operations.】
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 cryptocurrency futures/spots of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and others. For more real-time community guidance, de-risking consultations, and market analysis skills, please follow the public account of the teacher: Zhou Yanling to find the teacher.
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