Analyst Liang Qiu: The interest rate decision is coming in the early morning of September 17th. Bitcoin and Ethereum should be well managed in the evening.
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The market remained calm before the news, with Bitcoin and Ethereum largely sideways throughout the day. We suggested a pull-up strategy for the day, and during the afternoon live broadcast, we also preemptively pushed the price above 4530 to cover positions. The market fluctuated back and forth several times, with the lowest point reaching around 116,100 and 4480. The price could also rise by 1,000 points and 40 or 50 points, suggesting limited potential. However, prior to the data release, it is important to carefully manage risk and use timely swing trading strategies. The current market's bullish and bearish dynamics are not strong, so enter the market at the right time. On the daily chart, after breaking through the 116,000 resistance level, a bullish engulfing pattern formed, resonating with the MA golden cross. However, the MACD's red bars are shortening, and the RSI is approaching the overbought 70 zone, indicating weakening upward momentum. On the 4-hour chart, the Bollinger Bands are opening upward, the price has broken through the upper band, forming a golden cross on the MACD, and momentum is increasing. The upward trend may continue in the short term, but the 118,000 level is a key area for continued upward movement. On the daily chart, the market has seen consecutive negative closes, with the moving averages aligned in a bearish pattern and the MACD showing a strong green bar, indicating bearish dominance. However, the RSI has fallen into the oversold 40 zone, suggesting potential for a rebound. On the 4-hour chart, the market is range-bound, with the Bollinger Bands opening downward and the MACD forming a golden cross, but momentum is lacking. For tonight's trading, we recommend shorting Bitcoin between 116,800 and 117,300, with a target around 115,000; and shorting Ethereum between 4,530 and 4,560, with a target around 4,420. The recent continuous profit-making from our positions is clearly visible to many who follow us. The current market is primarily characterized by fluctuations, so our publications are effective and prioritize real-time guidance.
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