9.9 Non-farm expectations dashed, BTC suffered a Waterloo! Analysis of this week's market trends

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- I am analyst Li Hong (writing at 11.23 in the evening)

The scariest thing in the market is not the lack of quotes, nor the lack of opportunities, but being at a loss, placing random orders, not knowing where to go, facing the wrong direction no matter which way you turn, and any wind blowing in will be a headwind! Similarly, for those who do not understand trading, regardless of LongShort, once the market Fluctuates, it will be a disaster! There is no fancy language here, only real trading and clear operations. The market only has one direction, not longs or shorts, but the right direction. Reasonable risk control and good investment returns allow every retail investor to find the true joy of investing, instead of constantly increasing losses from trading hard every day. I have always believed that choice is more important than effort. A good mentor and a good technical team should be responsible to clients, not only bringing them profits. This is a message to myself, and also to others in the industry.

BTC news analysis: On Saturday (September 7th), the BTC price closed with an inverted hammer shape. After touching a low of 52250 due to non-agricultural reasons, it began to rebound and closed near the 54000 level. BTC experienced a big dump on Friday, causing 290,000 people to return to the previous state overnight, and the overall performance of the BTC market this week was quite fluctuating. Last week, BTC reached the highest point of 60000, then fell to the 55500 level on September 4th during the Asian session. Despite a rebound during the U.S. session on Thursday, the price quickly fell to a low of 52500 after a period of non-agricultural data on Friday. This week, investors will welcome U.S. inflation data, which is expected to trigger a big movement in the BTC market.
#ETH
The survey of BTC trends this week shows a clear divergence between institutional analysts and retail investors. While retail investor sentiment remains bullish, institutional analysts generally hold a bearish view, believing that the price of BTC may further decline in the coming days. This divergence reflects the uncertainty in the market regarding global economic data and monetary policy. The market's focus will shift to inflation data and the Interest Rate decision of the European Central Bank. The US CPI data for August, expected to be released on Wednesday, is likely to be a key factor, while the European Central Bank's meeting on Thursday may bring a 25 basis point rate cut. In addition, US PPI data and initial jobless claims for August will also be released on Thursday, further impacting market sentiment. Finally, the preliminary data for the University of Michigan Consumer Sentiment Index will be released on Friday. Overall, the BTC market will face the impact of multiple economic data in the coming week, while expectations for the monetary policy of the Federal Reserve will continue to dominate the short-term trend of BTC. Despite the different views held by analysts on BTC, uncertainty remains the theme of the market.

We have been emphasizing recently that BTC is not recommended to chase rising prices, and it is advisable to wait for opportunities to layout at high levels. The trend of BTC on Friday night met expectations, with a sharp decline. Overall, everything is under control. The sharp drop at the high level at the moment may indicate that the top has appeared. However, due to the Fluctuation of prices during the weekend, it is difficult to continue without breaking the range. Overall, BTC still has a good outcome. With the sharp drop at the high level, has BTC bottomed out?
#BTC
Looking at the BTC daily chart, combined with non-farm data, the price briefly pumped to a high point and then quickly fell, falling below the key support level of 54500 last Friday, while the short-term moving average support also collapsed. The MACD and MA are in a death cross state, suggesting that the future pump space may be limited. The Bollinger Bands are starting to contract, and the KDJ indicator has once again formed a death cross downward, further confirming the weak trend of BTC long positions. In addition, the large Bearish line on Friday has intensified this judgment.

Those who want to follow my fren will know that the recent market is strong and the points given in the recent articles have been profitable. Today, I also provide a shorting strategy: BTC: Shorting in the range of 54600-54700, ETH: Shorting in the range of 2330-2300. The weekend is also well controlled. I also provide the strategy of shorting high and longing low within the range. I'm too lazy to talk nonsense.

The above article is written by Li Hongtrend. The article is only the author's personal opinion. The positions of various platforms are inconsistent. Real-time market black charts are connected to the author. The above analysis content only represents the author's personal opinion and does not constitute specific operations. The article has laggingness. Operate at your own risk, investment carries risks, and caution is required when entering the market.