9.23 Bitcoin (BTC) Ethereum (ETH) latest market analysis and trading strategy

Bitcoin saw a drop of over ten thousand points last night, with the price falling from a high of around 115400 to around 111400. Currently, the price has rebounded to around 112500, and there is significant short-term price volatility. Previously, Mr. Coin also advised a cautious wait-and-see approach. There isn't much analysis to be done on the market at the moment. Recently, Mr. Coin has been reminding everyone to maintain good risk control and to pay attention to capturing profits in a timely manner. Despite the rising prices of various altcoins, trading volumes have significantly decreased, so it's suggested that everyone stay alert.

Currently, the intraday market is in a phase of consolidation, fluctuating within a range of over a thousand points, with no signs of a break in the short term. After the decline, the market has entered a period of calm, so our strategy is to go short at high points and long at low points. Pay attention to the resistance at the 114500-114000 level above, and the support at the 111000 line below.

Ethereum (ETH) latest market analysis

Ethereum fell nearly 400 points yesterday, with a low spike touching the 4077 position before rebounding. The previous gains have all been wiped out, and the current price is rebounding around the 4170 position. The trend is also in a recovery consolidation, with a key focus on the 4100 support line. If there is a pullback that breaks below this level during the day, the pullback is expected to continue.

Looking at the short-cycle hourly chart, the trend is in the mid-lower track area, with the short-term market maintaining a low-level fluctuation, slowly declining at low levels. If the short-term support breaks down, the trend is expected to decline further, so it is advised that all coin friends prepare in advance. Due to the strong decline impact yesterday, the short-term price volatility is significant, so all coin friends must pay attention to risk control during operations. Currently, the strategy is mainly to rebound with short positions, supplemented by long positions on pullbacks, and to follow short positions when breaking through. On the short-term chart, the upper resistance to watch is around 4260, and the lower support to focus on is 4080. If it breaks below the 4100 line, consider going short, with take profit looking at a 30-40 point gain.

Ethereum short-term reference:
Short test 4230-4280 lightly, stop loss 30 points, target below 4190,
Long at the test range 4081-4031, stop loss 30 points, target above 4150.

The article publication review has a delay, and the market changes rapidly. The above suggestions are for reference only!