BTC Big Brother’s Trading Guide Today
On September 16, BTC remained overall weak and slid. The market is completely dominated by the bears. After yesterday’s spike to 79,500, it met resistance and then dropped sharply. Today it opened significantly lower, dipping as low as 74,900. It is currently hovering around 75,700 in a weak consolidation. Over the past 24 hours, it’s down more than 2%, and selling pressure continues to be released.
The technical bearish signals are very clear. On the hourly chart, all moving averages have turned downward. Price remains under pressure and is trading below the Bollinger middle band, with the channel opening pointing downward. MACD is running below the zero line, bearish momentum is continuing. RSI is in a weak range. In addition, ADX across higher and lower timeframes is rising in sync, further confirming the strength of the downtrend.
Key intraday support is concentrated at 74,900–75,000—this is an important defensive level in the short term. Above that, 76,000–76,500 is the short-term bull/bear dividing line. If the rebound reaches this zone, it faces very strong resistance. Above 77,000 is even more of a strong resistance area.
Tonight’s Fed decision and Powell’s remarks are the core variables for the行情. Before the news lands, the outlook is generally weak with consolidation. Today, Big Brother has a clear bearish plan: during the 76,000–77,000 rebound range, scale in short positions in batches. The first target is 75,000. If that level breaks, follow through to the second target at 73,800. Rebounds are an opportunity to short—do not go long against the trend.#BTC $BTC
On September 16, BTC remained overall weak and slid. The market is completely dominated by the bears. After yesterday’s spike to 79,500, it met resistance and then dropped sharply. Today it opened significantly lower, dipping as low as 74,900. It is currently hovering around 75,700 in a weak consolidation. Over the past 24 hours, it’s down more than 2%, and selling pressure continues to be released.
The technical bearish signals are very clear. On the hourly chart, all moving averages have turned downward. Price remains under pressure and is trading below the Bollinger middle band, with the channel opening pointing downward. MACD is running below the zero line, bearish momentum is continuing. RSI is in a weak range. In addition, ADX across higher and lower timeframes is rising in sync, further confirming the strength of the downtrend.
Key intraday support is concentrated at 74,900–75,000—this is an important defensive level in the short term. Above that, 76,000–76,500 is the short-term bull/bear dividing line. If the rebound reaches this zone, it faces very strong resistance. Above 77,000 is even more of a strong resistance area.
Tonight’s Fed decision and Powell’s remarks are the core variables for the行情. Before the news lands, the outlook is generally weak with consolidation. Today, Big Brother has a clear bearish plan: during the 76,000–77,000 rebound range, scale in short positions in batches. The first target is 75,000. If that level breaks, follow through to the second target at 73,800. Rebounds are an opportunity to short—do not go long against the trend.#BTC $BTC