$BTC — Morning Update | 9/22
(BTC/ETH)
$ETH TH Outlook
Last night, I shared the long setup and targets in advance. After taking profit on the previous trade, we followed the move and entered another long at 85,300, targeting 86,500. The market moved exactly as expected overnight, hitting the target and securing 1,200 points.
Momentum remained strong, so we continued looking for opportunities. Earlier, we anticipated increased volatility around the 4:00 AM U.S. market close. Taking advantage of that window, we called another long at 86,100, targeting 87,000. The market once again followed the expected move and we secured another 900 points.
Entry levels, timing, and take-profit targets were all shared in advance. No hindsight calls, no chasing the market.
While many traders were hesitant to enter because of the continued rise, repeatedly waiting on the sidelines, we managed to catch two consecutive moves. Profits don't come from luck or blind bets. They come from understanding the market's rhythm and reading the price action properly. Those who followed the momentum were able to capture both moves. In the end, the market speaks for itself.
BTC Technical Analysis
On the daily chart, #BTC pushed higher again early this morning, reaching 87,385. The upper wick is not particularly significant, and the candle closed as a solid bullish candle, showing that buyers are still in control.
On the 4-hour chart, BTC has formed six consecutive bullish candles. The current candle has started showing an upper wick, while trading volume is gradually declining. After the push higher during the U.S. market closure, the subsequent pullback combined with lower volume suggests that there is a meaningful risk of a short-term correction.
The KDJ indicator is around 80 and is close to forming a bearish crossover, which suggests that some intraday correction may be needed. However, the broader bullish trend remains intact.
If a correction begins, I don't expect the downside to extend too far at this stage. The first key support zone remains around 84,000–84,500.
On the 1-hour chart, BTC formed an upper wick after reaching around 87,300 and has started a pullback. Although we have seen two consecutive bearish candles, this alone is not enough to signal the end of the current bullish move.
For the morning session, the short-term bias is toward a pullback. However, the overall trend has not reversed, so I would not recommend being overly bearish or holding aggressive, far-away short positions.
If the correction remains shallow, or the market moves sideways while gradually drifting lower, the main strategy will still be to look for long entries at lower levels and participate once the pullback is over.
Tuesday Morning Trading Plan
BTC:
Short lightly around 86,500–87,000
Target: 84,500
Stop Loss: 87,400
ETH:
Short lightly around 2,780–2,800
Target: 2,700
Stop Loss: 2,810