Analyst Liang Qiu: 9.7 Bitcoin Ethereum weekly is nearing completion, what is the goal of the continuous decline in the narrow range?

Bitcoin Ethereum during the weekend continue to experience tight fluctuations, and the overall continuity of the trends is not strong, there is pressure from above and support from below, and no level has been broken. We set up a plan again near 4330 for selling, and after midnight 4240 for buying, and overall we can achieve some gains. The trend during the weekend is not clear, and tomorrow morning at eight the week will close, if there are no major changes, Ethereum will close in red for the second consecutive week, but Bitcoin stabilized in the middle of the week, which is considered a significant variable, perhaps the market will continue with short-term fluctuations focusing on the resistance level 113000 from above and support at 108000 from below.

The daily candlestick pattern indicates that prices have recently fluctuated around 110800 and 4300, after experiencing a significant drop earlier and then a slight rebound, but overall they remain within a weak correction range. On the four-hour level, several candlesticks with long upper shadows have formed, indicating significant selling pressure at the top; however, the lows are gradually rising, providing some support. In technical indicators, the daily and four-hour candlesticks are below the zero axis, where the values of DIF and DEA remain negative, indicating a clear downward trend, but there are signs of decreasing volume in the short cycle (4 hours), which may indicate the entry into a volatile correction phase.


The evening trading recommendation is to sell Bitcoin near 111200 to 111700, with a target of around 109500; and to sell Ethereum near 4310 to 4340, with a target of around 4240.

The analysis and strategies mentioned above are for reference purposes only, and risks should be borne personally. The review and publication of articles do not enjoy timely accuracy; matters should be specified according to the time of action.