September 2 BTC/ETH Daily Market Report丨Fundamental Pressure May Bring a New Turning Point to the Market!
“Jiang Feng Trading Strategy Diary,” Issue 37
Today’s outlook remains primarily focused on shorting at high levels. After Fed Chair Wosh made hawkish remarks last Friday, the market reacted positively. According to CME data, the probability of a rate hike in September quickly rose from the previous 30% to the current 67%. Regardless of whether the Fed will actually raise rates, the market is trading on expectations, as reflected by BTC’s rapid price decline.
In addition, there are several other price-suppressing factors worth our attention. U.S. Treasury yields are currently surging continuously, with the 2-year yield rising to 4.34%, the 10-year yield to 4.808%, and the 30-year yield to 5.25%.
Furthermore, the recent escalation of the U.S.-Iran conflict has pushed crude oil to a recent high, while Bitcoin ETF net outflows yesterday reached $236.5 million, the highest level in nearly two weeks. These three factors will significantly suppress Bitcoin’s upside!
Therefore, the market has not been overly optimistic recently. From the chart, Bitcoin is currently fluctuating within the 76000–81500 range, with clear support near 76000 and strong resistance still around 82000. Ethereum is fluctuating between approximately 2400 and 2550. However, I believe caution is needed now, as there is a high probability that one side will break out. I hope it will effectively break below 2400, because the market now needs a deep retracement to be healthier. I also have not yet bought the bottom, which is another reason😓
Today’s outlook:
Bitcoin currently faces short-term resistance near 77800 at the Ichimoku base line, followed by resistance around 79300, as well as resistance at 79888 and 80500. Major resistance remains near 82600.
Ethereum faces short-term resistance near 2430 and resistance around 2460, followed by resistance near 2485, as well as resistance around 2515 and 2565. The main resistance remains near 2600 and 2680!
Specific trading strategy: (Since high-level short positions were previously given at 81400, 80800, 79300, 2535, 2515, and 2485, and after the targets were reached, everyone was prompted to reduce positions and move stops to breakeven while continuing to trade, I will be more conservative with today’s strategy.)
BTC:
Watch the resistance around 79300–79888 to open an initial short position, add to the short near 80500, keep risk controlled at 80800, and continue targeting around 7.7–7.6. If it breaks below effectively, look toward 7.48–7.3–7.2,
ETH:
Watch the resistance around 2485–2515 to open an initial short position, add to the short near 2565, control the stop-loss around 2620, and continue targeting around 2400. If it breaks below effectively, look toward 2315–(2275–2240), as well as 2060–1970
⚠️: BTC’s key resistance is around 82600, while ETH’s main resistance is around 2680
⚠️: Short-term traders can open light short positions in advance around the upper 77800–79300 range. For Ethereum, short positions can be opened in advance around 2430–2460–2485. Be sure to participate with light positions. Place the stop-loss at the next entry level, moving it up by 200–300 points as the defense level (BTC); for ETH, moving it up by 10–20 points is sufficient as the defense level!
Previous review:
Yesterday, BTC surged again to the 79228 level before beginning a retracement. Ethereum likewise retested the resistance near 2485, but fell back again after failing to break through and is currently around 2400. Issue 35 mentioned entering a low long position around 2400, which then rose to around 2490 and completed the target!
The BTC short position around 80800–81400 mentioned in Issue 34 of the Jiang Feng Trading Strategy Diary has now completed its first target at 77000. After reducing the position, the trade continued with the stop moved to breakeven. The ETH short position from 2515–2600 likewise completed its first target at 2400; after reducing the position, it continued with the stop moved to breakeven
The BTC short-position strategy around 79300 mentioned in Issue 35 also completed its first target at 77000. After reducing the position, the stop was moved to breakeven. Yesterday’s high reached 79228, but the breakeven stop was not triggered, so continue holding. For the ETH short-position strategy around 2485–2535, the first target at 2400 was completed. It was also mentioned that those wishing to enter long positions could buy around 2400, and yesterday the price reached the 2490 level. At present, both the long and short positions have been validated!
The Issue 36 strategy did not trigger an entry, so continue referring to the strategy above intraday and participate according to your own risk tolerance!
⚠️⚠️: The above entry and exit strategies have point deviations: BTC ±100 points and ETH ±5 points. Choose entry points according to your actual situation, and be sure to use stop-losses! It is not easy to monitor the market, conduct analysis, write articles, and prepare content. We hope everyone will continue to support us—like, comment, and repost all three, and you will surely get rich this year!
Written by: Jiang Feng Capital
#Gate用户突破6000万 #美伊局势恶化原油大涨5.7% #美伊局势恶化原油大涨5.7% #股票新客入门礼 $BTC
$ETH
