đłSeptember 21 midday market outlook.đł
$BTC View:
The BTC keeps printing even higher highs on this next attemptâare we now preparing to break through the daily-level resistance at 82666, and get the âdaily chart takes offâ momentum? At the moment, be cautious about shorting; overall, itâs better to focus on longing on pullbacks, with shorts as a secondary strategy.
Looking at the spot circled in the white box on the left: do you definitely have classmates who shorted at that point? Yesâyou could short there, because a top pattern appeared, and the white-box circled area corresponds to a bearish engulfing pattern. That indicates a pullback at the current level is needed.
Whether you shorted when the top pattern formed, or you shorted on the breakdown of 80840, itâs fine. But when BTC fell to 80084, the red arrowâs indicated downside repeatedly failed to go lowerâthen you should have asked yourself â Why couldnât it drop further? Before 80840 broke, it acted as support. Once support was broken, it turned into resistance. Then BTC did a retracement and once again traded above the 80840 resistance. The 80840 resistance got broken again, and then another âsupport/resistance swapâ happened.
At that moment, the short position you opened in the left white-box circled area should have been closedâyou shouldnât keep holding.
Because the fact that 80840âs support broke and then reclaimed indicates this pullback is already over and there is a rebound demand. Therefore, your short position must be exited. Also, the bigger background is still an uptrend and hasnât been brokenâthis is position management.
When trading, never hold on to a position (donât âcarryâ it). If you keep holding, youâll miss a whole wave of market moves.
Right now, BTC has broken out of the triangle again, and after surpassing the 81725 resistance, it printed an even higher high. Itâs currently retracing to the 80840 level at the upper boundary of the triangle. If the pullback does not drop back down and trade inside the triangle (below 80840), it wonât revisit the 80084 support area. Conversely, if it breaks upward and can hold above 81725, it will continue challenging the 82666 resistance.
No matter how BTC pulls back, as long as it doesnât break the 80084â79224 support zone, it wonât go into a deep correction. Shorting can only profit from the pullback; donât âhold the positionâ expecting further downside.
With volume breaking above 81624, the aggressive traders chasing long on the right sideâgo ahead. If BTC breaks down with volume below 80864 and then canât reclaim it on the right side, the aggressive short is no goodâprepare your stop loss.
On the hourly timeframe: once BTC breaks above and holds 81624, look for 82666â84010. If it canât stay above 81624, itâs pointless.
On the 4-hour timeframe: if it breaks below 80864, look for 80128â79229.
Upper resistance: 81624â82666â84010
Lower support: 80864â80128â79229
See comments
$BTC
#仄ć€ȘćçȘç Ž2700çŸć
$BTC View:
The BTC keeps printing even higher highs on this next attemptâare we now preparing to break through the daily-level resistance at 82666, and get the âdaily chart takes offâ momentum? At the moment, be cautious about shorting; overall, itâs better to focus on longing on pullbacks, with shorts as a secondary strategy.
Looking at the spot circled in the white box on the left: do you definitely have classmates who shorted at that point? Yesâyou could short there, because a top pattern appeared, and the white-box circled area corresponds to a bearish engulfing pattern. That indicates a pullback at the current level is needed.
Whether you shorted when the top pattern formed, or you shorted on the breakdown of 80840, itâs fine. But when BTC fell to 80084, the red arrowâs indicated downside repeatedly failed to go lowerâthen you should have asked yourself â Why couldnât it drop further? Before 80840 broke, it acted as support. Once support was broken, it turned into resistance. Then BTC did a retracement and once again traded above the 80840 resistance. The 80840 resistance got broken again, and then another âsupport/resistance swapâ happened.
At that moment, the short position you opened in the left white-box circled area should have been closedâyou shouldnât keep holding.
Because the fact that 80840âs support broke and then reclaimed indicates this pullback is already over and there is a rebound demand. Therefore, your short position must be exited. Also, the bigger background is still an uptrend and hasnât been brokenâthis is position management.
When trading, never hold on to a position (donât âcarryâ it). If you keep holding, youâll miss a whole wave of market moves.
Right now, BTC has broken out of the triangle again, and after surpassing the 81725 resistance, it printed an even higher high. Itâs currently retracing to the 80840 level at the upper boundary of the triangle. If the pullback does not drop back down and trade inside the triangle (below 80840), it wonât revisit the 80084 support area. Conversely, if it breaks upward and can hold above 81725, it will continue challenging the 82666 resistance.
No matter how BTC pulls back, as long as it doesnât break the 80084â79224 support zone, it wonât go into a deep correction. Shorting can only profit from the pullback; donât âhold the positionâ expecting further downside.
With volume breaking above 81624, the aggressive traders chasing long on the right sideâgo ahead. If BTC breaks down with volume below 80864 and then canât reclaim it on the right side, the aggressive short is no goodâprepare your stop loss.
On the hourly timeframe: once BTC breaks above and holds 81624, look for 82666â84010. If it canât stay above 81624, itâs pointless.
On the 4-hour timeframe: if it breaks below 80864, look for 80128â79229.
Upper resistance: 81624â82666â84010
Lower support: 80864â80128â79229
See comments
$BTC
#仄ć€ȘćçȘç Ž2700çŸć
