Analyst Liang Qiu: Bitcoin and Ethereum Trend Analysis with the September 17 Interest Rate Decision Coming

Bitcoin and Ethereum surged higher again last night, while Bitcoin even surged to the 117,000 level before retreating. This trend is in line with expectations, with prices retreating under pressure from above. We reinvested our position in Kongdan last night, and after another early morning rally, we added to our positions and subsequently retreated, potentially gaining some ground. The market is currently fluctuating sideways after its pullback, representing the calm before the storm. After 2 a.m., volatility will intensify and disrupt the recent volatile pattern, requiring careful management. I'm more inclined to see an early morning surge followed by a sharp decline, but this will require further analysis based on the prevailing market conditions. Bitcoin's daily candlestick chart shows a recent continuous decline, forming multiple bearish candlesticks, indicating a weak correction. Bitcoin has also experienced repeated surges and declines. On the 4-hour chart, there is some buying support at the lower levels, but the overall trend remains volatile and bearish. Technical indicators on the 4-hour chart show both the DIF and DEA trading below the zero axis, with the green bars shortening but not turning red. This suggests a weakening of the bearish trend, but it hasn't yet strengthened. The recommended trading strategy is to short Bitcoin around 116,800 to 117,300, with a target around 115,000; and short Ethereum around 4,500 to 4,530, with a target around 4,410. In fact, the recent continuous profit-making from the positions is clearly visible to many followers. The current market is mainly characterized by fluctuations, so the effectiveness of this article is practical, and specific guidance is mainly based on real-time guidance.