September is about to end, how will the National Day next week go? Three words, continue to fall, aiming for 103000.

From the current overall situation, market sentiment is sluggish. After the bears repeatedly tested and broke the 110,000 support, there has been a certain rebound, but the strength is limited and has not stirred up any waves. Overall, it still presents a relatively weak pattern.

From a technical structure perspective, there is a clear bearish dominance. On the weekly level, a solid bearish candle has fallen below the middle track support, indicating a direct weakening of the trend, while various indicators point towards bearishness, suggesting a further need to probe lower. On the daily level, after the previous large bearish candle broke below the lower track, it is currently oscillating and adjusting in the lower track area, which clearly shows a lack of rebound strength.

Next week will be another non-farm payroll market. If it follows the script, Bitcoin will once again test the previous low area of 107200. If it can break through, then the bears will create a new low, while the bulls will have no chance of reversal. Personally, I do not see any reversal signals in the current structure, so I still maintain a long-term bearish outlook.

Refer to 110500, short sell near 111000, short-term target around 108500, medium-term target around 107000, if broken continue to look down to around 103000.
Short around 4050, 4100 for Ethereum, looking at the range of 3800-3500.
(Above Light Cangjin)

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