#BTC Market analysis 9/14
Yesterday, a long position at 76900–77200 has already been entered. This morning it was shaken down to the low of 76350, but the stop-loss at 75800 was not hit. Now it is back around 77800. Hold the positions; the first target is still 78300–78500, just one step away.
$BTC The daily trend has not been broken yet. Around 76000, continuous support has been effective. Today, we continue to look for longs.
However, 77900–78000 is a hard resistance zone in the short term.
Here it also coincides with the 1-hour EMA200. When the rebound reached this area, OI increased by about 2.7%, while price only rose about 0.7%. This indicates that leveraged longs are starting to pile up at the resistance level. Chasing longs directly may easily get you washed out.
Today, only do pullback longs.
For new entries: wait for the pullback to 76900–77300 to stabilize, then take the trade again. Stop-loss: 75900.
Targets: first look at 78300–78500. If it breaks through, then look at 79300. If momentum stays strong, continue to look at 80500.
If there is a valid breakdown on the 4-hour timeframe below 76000, the bullish idea is cancelled.
This coming Thursday at 2:00 AM there will be an FOMC event. Today, when opening positions, don’t make leverage too large.
Simple summary: The larger trend is still relatively bullish, but don’t chase above 78000. It feels better to re-enter on a pullback to 76900–77300.
⚠️ The above is only my personal market analysis, not investment advice. Pay attention to position sizing.
Yesterday, a long position at 76900–77200 has already been entered. This morning it was shaken down to the low of 76350, but the stop-loss at 75800 was not hit. Now it is back around 77800. Hold the positions; the first target is still 78300–78500, just one step away.
$BTC The daily trend has not been broken yet. Around 76000, continuous support has been effective. Today, we continue to look for longs.
However, 77900–78000 is a hard resistance zone in the short term.
Here it also coincides with the 1-hour EMA200. When the rebound reached this area, OI increased by about 2.7%, while price only rose about 0.7%. This indicates that leveraged longs are starting to pile up at the resistance level. Chasing longs directly may easily get you washed out.
Today, only do pullback longs.
For new entries: wait for the pullback to 76900–77300 to stabilize, then take the trade again. Stop-loss: 75900.
Targets: first look at 78300–78500. If it breaks through, then look at 79300. If momentum stays strong, continue to look at 80500.
If there is a valid breakdown on the 4-hour timeframe below 76000, the bullish idea is cancelled.
This coming Thursday at 2:00 AM there will be an FOMC event. Today, when opening positions, don’t make leverage too large.
Simple summary: The larger trend is still relatively bullish, but don’t chase above 78000. It feels better to re-enter on a pullback to 76900–77300.
⚠️ The above is only my personal market analysis, not investment advice. Pay attention to position sizing.
