Weekly Analyze of the Crypto Investing in September, 2022
Date:Date: Sep 19, 2022 — Sep 23, 2022
This week, the crypto market as a whole is still in a weak and volatile situation.
BTC did not open the downside on the weekly line. Although the daily line continued to oscillate downward and hit a new low recently, after the false break, the positive turnaround showed signs of stabilizing, similar to the trend in early July. The premise is to defend the low range of 18000-18500. The resistance zone is 20500-21000.
Although ETH also continued to decline on the weekly line, it was not strong enough. It's more like an inertial undershoot, which has now recovered somewhat. The daily line has fallen 30% from the high point of 1790, which is equivalent to the previous wave of decline. The structure has stepped back on the upper edge of a long-term consolidation zone in the previous period. In addition, the bottom deviates from the trend, and the market has strong rebound expectations. If it can stabilize above 1400 and get rid of the downtrend, the rebound target will be around 1500, the Fibonacci 50% line. The support range is 1200-1250, and the pressure range is 1500-1550.
Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
(All for reference only, plz invest rationally)
This week, the crypto market as a whole is still in a weak and volatile situation.
BTC did not open the downside on the weekly line. Although the daily line continued to oscillate downward and hit a new low recently, after the false break, the positive turnaround showed signs of stabilizing, similar to the trend in early July. The premise is to defend the low range of 18000-18500. The resistance zone is 20500-21000.
Although ETH also continued to decline on the weekly line, it was not strong enough. It's more like an inertial undershoot, which has now recovered somewhat. The daily line has fallen 30% from the high point of 1790, which is equivalent to the previous wave of decline. The structure has stepped back on the upper edge of a long-term consolidation zone in the previous period. In addition, the bottom deviates from the trend, and the market has strong rebound expectations. If it can stabilize above 1400 and get rid of the downtrend, the rebound target will be around 1500, the Fibonacci 50% line. The support range is 1200-1250, and the pressure range is 1500-1550.
Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
(All for reference only, plz invest rationally)
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