Yueying: September 15th Bitcoin and Ethereum Market Analysis: Will Bitcoin's long-term sideways trend lead to a fall? Expect a rebound if support remains intact.
Technical Analysis of Big Cake: On the daily chart, the market is fluctuating above the 60-day moving average. The candlestick chart closed with a cross, facing pressure from the upper band. The Bollinger Bands are slightly opening, with the short-term moving average trending upward. The MACD fast and slow lines crossed upward, breaking through the 0-axis, with the volume bar shrinking, and the KDJ indicator turning downward. The VR indicator is consolidating around 100. On the 4-hour chart, the candlestick chart is flattening and fluctuating within a narrow range around the 7-day moving average. The Bollinger Bands are narrowing, with the short-term moving average trending upward and flat. The MACD fast and slow lines are crossing downward, with the volume bar expanding, and the KDJ indicator turning upward. The VR indicator is consolidating around 150. Overall, the market is experiencing a volatile correction over the weekend. The daily 7-day and 60-day moving averages are holding up, suggesting a continued rebound. Short-term resistance remains at the previous high, followed by below 118,000. Support is at the 4-hour middle band and the daily 7-day and 60-day moving averages. Short-term support is available. Bitcoin short-term recommendation: Buy 115,300 (buy 114,400), sell 116,400 (short 117,500). The pullback has been a bit stronger, and the daily chart is also facing resistance from the upper band. The Bollinger Bands have slightly opened, and the short-term moving average has turned upward. The 4-hour chart has fallen below the short-term moving average. Next, we'll see if the rebound can hold. Currently, support is around 4,600. Be wary of a false break. Focus on support above 4,500 below, and resistance below previous highs and 4,900 above. Here's the short-term recommendation. My short-term recommendation: Buy 4,588 (buy 4,508), sell 4,750 (short 4,870). (For more currency analysis, click on the image to see my profile on the homepage.) — I'm Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, please feel free to discuss and learn with me! Let's share and profit together!