Summarize last week's market data and individual orders, and outlook for next week.
Last Monday, I told everyone that the overall judgment for this week is to close with a bullish candle and to be bullish.
Then the predicted monthly line closing in the negative hasn't materialized yet; we will see how the interest rate cut on the 18th unfolds.
This week's three news events all ended with a draw. We basically all ate it, taking Bitcoin as an example, with three cryptocurrencies operating simultaneously.
Whether it's the short at 112300 or the long at 109500, we are in the car for the short at 11320. To sum it up, we will judge on Monday to go long for a long hold this week, mainly because
The repeated washing of the bottom of the big cake, and the continuous new lows that drop by about 100 points, are clearly aimed at triggering stop losses. Additionally, with the daily head and shoulders bottom and the daily level oscillating downward breaking through, it is judged to be bullish. The decline is mainly caused by selling pressure in the spot market. Let's talk about the short positions from yesterday, taking Ethereum as an example. In the early hours of the day before yesterday, a position was opened near 4300, which is also near the trend line, then additional positions were added at 4286 and 4253, with a stop loss set below 4235.
The upward trend line from August 20th to now is still effective. The small non-farm payroll dropped to the trend line, forming a bottom, and then the market was bullish all day yesterday. This means that the positive sentiment from the non-farm payroll was released in advance, and when it hit our short order position at 4480, we quickly closed our position. After the market data stabilized, we saw Bitcoin and Ethereum last night.
After the top structure appeared, a short position was taken again, breaking through the small upward trend line and rolling over four times. The main logic is that the neck line support is almost non-existent, and the rebound after breaking the line is weak, so we roll over. This is relatively safe. Therefore, with a small position in a big market, if we guess correctly, we roll over, which makes the risk low and controllable.
Focus on next week The news to pay attention to is the CPI at 8:30 on Thursday. The forecast should still be a volatile market data mainly for profit-taking. The American economy is currently in decline, and investors lack confidence. It is estimated that there will be another upward movement before Thursday, with a high probability of an increase on Monday and Tuesday. Let's wait for the storm before and after the interest rate cut.
Next week's trading advice is to pay attention to the fact that Bitcoin cannot fall below 110,000. Over the weekend, we need to see if it can hold steady at 112,200. If it holds, there will be a strong upward movement next week. If it holds, pay attention to short positions around 114,100.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Summarize last week's market data and individual orders, and outlook for next week.
Last Monday, I told everyone that the overall judgment for this week is to close with a bullish candle and to be bullish.
Then the predicted monthly line closing in the negative hasn't materialized yet; we will see how the interest rate cut on the 18th unfolds.
This week's three news events all ended with a draw. We basically all ate it, taking Bitcoin as an example, with three cryptocurrencies operating simultaneously.
Whether it's the short at 112300 or the long at 109500, we are in the car for the short at 11320. To sum it up, we will judge on Monday to go long for a long hold this week, mainly because
The repeated washing of the bottom of the big cake, and the continuous new lows that drop by about 100 points, are clearly aimed at triggering stop losses. Additionally, with the daily head and shoulders bottom and the daily level oscillating downward breaking through, it is judged to be bullish.
The decline is mainly caused by selling pressure in the spot market. Let's talk about the short positions from yesterday, taking Ethereum as an example. In the early hours of the day before yesterday, a position was opened near 4300, which is also near the trend line, then additional positions were added at 4286 and 4253, with a stop loss set below 4235.
The upward trend line from August 20th to now is still effective. The small non-farm payroll dropped to the trend line, forming a bottom, and then the market was bullish all day yesterday. This means that the positive sentiment from the non-farm payroll was released in advance, and when it hit our short order position at 4480, we quickly closed our position. After the market data stabilized, we saw Bitcoin and Ethereum last night.
After the top structure appeared, a short position was taken again, breaking through the small upward trend line and rolling over four times. The main logic is that the neck line support is almost non-existent, and the rebound after breaking the line is weak, so we roll over. This is relatively safe. Therefore, with a small position in a big market, if we guess correctly, we roll over, which makes the risk low and controllable.
Focus on next week
The news to pay attention to is the CPI at 8:30 on Thursday. The forecast should still be a volatile market data mainly for profit-taking. The American economy is currently in decline, and investors lack confidence. It is estimated that there will be another upward movement before Thursday, with a high probability of an increase on Monday and Tuesday. Let's wait for the storm before and after the interest rate cut.
Next week's trading advice is to pay attention to the fact that Bitcoin cannot fall below 110,000. Over the weekend, we need to see if it can hold steady at 112,200. If it holds, there will be a strong upward movement next week. If it holds, pay attention to short positions around 114,100.