Analyst Liang Qiu: On September 21, Bitcoin and Ethereum continued to trade sideways over the weekend, with market turning point imminent.

Bitcoin and Ethereum basically remained in a sideways fluctuation over the weekend, with overall continuity of bulls and bears not strong. However, this trend is also a sideways movement during a decline after a high pullback, which is a continuation pattern in the downtrend. The trend has already begun to weaken, and the rebound strength is not strong. The clear strategy of Dolcon that we laid out multiple times is evident, and the overall space is still manageable. However, tomorrow at 8 AM, the daily and weekly closing will end this fluctuation trend. Subsequently, pay attention to the resistance at 117000 and 4580 above, and the important support at 4400 and 114000 below. Once the levels are broken, the trend will change significantly.

The K-line pattern shows that on the daily level, after a spike in the last two days followed by a large bearish candle, the market has been moving sideways, indicating significant pressure above. However, the multiple tests of the daily level support below have formed short-term support. Recently, the price has been weakly oscillating in the 4-hour cycle, testing the levels of 4520 and 116500 multiple times without an effective breakout. In terms of technical indicators in the 4-hour cycle, both the DIF and DEA are below the zero axis, and the histogram remains in negative territory, showing that bearish strength is dominant, although the downward momentum has somewhat weakened.


The trading suggestion is to short Bitcoin around 115800 to 116300, targeting around 114500; short Ether around 4490 to 4520, targeting around 4430.

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