9.28 Morning Brief Analysis:
#Bitwise提交NEAR现货ETF最终招股书 #Bitget黑客转移8300万美元被盗XRP #SOL现货ETF周净流入1.88亿美元 #狗狗币ETF创上市来最大周流入
Hello everyone, I am Yuanzhuo Analysis. Looking back at yesterday’s market action, based on the overall market structure: yesterday, BTC fell from the 85,100 level, with the low dropping to the 84,100 range. The short-term decline totaled about 1,000 points. ETH faced pressure starting from 2,722 and pulled back to around 2,673, a short-term retracement of 39 points.
On the chart, overhead resistance is clearly suppressing price. The momentum of the bulls has somewhat slowed, and a round of short-term pullback has formed. The key focus now is the effectiveness of the support below. If support holds, the market may once again stabilize and repair through consolidation. If support is broken through effectively, the downside pullback space will open up further.
The market is still moving within an upward channel. Yesterday saw a high followed by a pullback; during the midnight phase, there was a round of downward probing. However, the bears did not form sustained downside momentum. After probing the lows, price closed with a strong bullish candlestick, and trading has reopened to the upside. This current pullback, in essence, is a test and confirmation of the validity of the low-level support below.
On the weekly structure, the market has completed a deep washout earlier. After probing the lows, a strongly consecutive bullish rebound pattern emerged. In recent weeks, the weekly candles show full bodies, and bullish momentum continues to release. Price has already moved out of the lower band range, has held above the weekly mid-band, and is now challenging the upper weekly band. This pattern reflects that the medium- to long-term bottom support is solid. Once a trend on the larger timeframe is established, it is unlikely to reverse easily in the short term, and it also provides macro support for the idea of going long on pullbacks. In terms of execution, avoid blindly chasing longs. First wait for the price to pull back to test support, and only after signs of stabilization appear, scale into long positions in batches. At the same time, manage risk strictly: if there is a high-volume breakdown of a key support level, the trend may weaken.
Short-term trading suggestions:
BTC: Go long around 83,400–83,000. Target: 85,500–86,000.
ETH: Go long around 2,640–2,620. Target: 2,710–2,730.
#Bitwise提交NEAR现货ETF最终招股书 #Bitget黑客转移8300万美元被盗XRP #SOL现货ETF周净流入1.88亿美元 #狗狗币ETF创上市来最大周流入
Hello everyone, I am Yuanzhuo Analysis. Looking back at yesterday’s market action, based on the overall market structure: yesterday, BTC fell from the 85,100 level, with the low dropping to the 84,100 range. The short-term decline totaled about 1,000 points. ETH faced pressure starting from 2,722 and pulled back to around 2,673, a short-term retracement of 39 points.
On the chart, overhead resistance is clearly suppressing price. The momentum of the bulls has somewhat slowed, and a round of short-term pullback has formed. The key focus now is the effectiveness of the support below. If support holds, the market may once again stabilize and repair through consolidation. If support is broken through effectively, the downside pullback space will open up further.
The market is still moving within an upward channel. Yesterday saw a high followed by a pullback; during the midnight phase, there was a round of downward probing. However, the bears did not form sustained downside momentum. After probing the lows, price closed with a strong bullish candlestick, and trading has reopened to the upside. This current pullback, in essence, is a test and confirmation of the validity of the low-level support below.
On the weekly structure, the market has completed a deep washout earlier. After probing the lows, a strongly consecutive bullish rebound pattern emerged. In recent weeks, the weekly candles show full bodies, and bullish momentum continues to release. Price has already moved out of the lower band range, has held above the weekly mid-band, and is now challenging the upper weekly band. This pattern reflects that the medium- to long-term bottom support is solid. Once a trend on the larger timeframe is established, it is unlikely to reverse easily in the short term, and it also provides macro support for the idea of going long on pullbacks. In terms of execution, avoid blindly chasing longs. First wait for the price to pull back to test support, and only after signs of stabilization appear, scale into long positions in batches. At the same time, manage risk strictly: if there is a high-volume breakdown of a key support level, the trend may weaken.
Short-term trading suggestions:
BTC: Go long around 83,400–83,000. Target: 85,500–86,000.
ETH: Go long around 2,640–2,620. Target: 2,710–2,730.