BTC Ether weekend market trend sharing


Last night’s speech by Old Bao hinted at a rate cut in September, which is a huge positive news. As a result, BTC violently surged 5000 points in just over ten minutes, and Ether violently surged 500 points. In just a short span of a few minutes, the increase exceeded the recent adjustments.
The trading strategy of BTC last night was also quite familiar; it briefly dipped below 111700 to trigger a wave of short selling, and then settled above the support around 112500, completing a new round of upward movement. I believe many people's stop-loss orders are set around the 111700 level, so for BTC to surge, it will definitely plunder the liquidity near 111700 before continuing its upward trend. This time, BTC reached a peak pressure of around 117300 and has currently retraced by about 2000 points.
BTC faces resistance today in the range of 117300, from 119100 to 120300, and around 122300. Support is near 114500; if it retraces to this position today, a long position can be entered. For those looking to short, they can try to take short positions in the range of 119000 to 122000, as there is still significant selling pressure near the new highs, providing opportunities for short positions.
Good news, Ether has finally broken its historical high! Bad news, it only broke the new high by a little bit, and then pulled back to the support around 4670, oscillating upwards. The resistance for Ether today looks at around 4880, and there won't be any pressure online, but there might be around 5000, as the market is waiting for Ether to break 5000. The support below looks at around 4670, 4610, and 4470. When Ether pulls back near the support, it’s a good opportunity to set up long positions.

With the surge and the weekend, consolidation is inevitable, and the impact of news is gradually fading. Previous articles have emphasized that the bull market has not ended; a pullback is an opportunity. Don't get shaken out, as being patient will always pay off!
Finally, I wish everyone a happy weekend! #ETH创历史新高#
BTC-2.44%
ETH-7%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)