September 20 BTC/ETH Daily Market Report | Above $80,000, Rebound or Reversal?
“Jiang Feng Trading Strategy Diary” Issue 47
The Federal Reserve raised interest rates by 25 basis points to 3.75%–4.00% on September 17. After the rate hike was implemented, BTC did not continue falling, but instead rebounded from around $75,000 to above $80,000. Meanwhile, BTC and ETH spot ETFs have recently seen net inflows again, indicating that market support remains after the negative news was priced in.
Therefore, the current situation cannot simply be understood as “a rate hike will inevitably lead to a decline.” In the short term, it looks more like a corrective rebound after the negative news was priced in. However, BTC has returned above $80,000 and has now entered a key resistance zone from earlier, so chasing longs is no longer particularly attractive.
BTC is currently around 80500, with key levels above at 81500–82000
82500–83000
If the rebound encounters clear resistance around 81500–82000, consider opening an initial short position, adding to the short at 82600–83000, with a stop-loss at 83500. Targets are around 80500–79500, 78000, 77000, 76000, and 75000; if the breakdown is confirmed, continue looking lower toward 73500.
However, if BTC genuinely breaks above and holds 83000, bears should temporarily let go of their short bias, because holding above 83000 could potentially send BTC toward around 90,000.
For ETH, if it encounters resistance while pushing higher around 2600–2640, consider shorting. Focus on adding to the short at 2680–2720, with a stop-loss above 2760. Targets are around 2510, 2450, and 2350; if the breakdown is confirmed, continue looking lower toward around 2233–2100.
⚠️: For those who cannot accept a wide stop-loss, reduce your position size, or after entering in the initial-position area, move the add-on entry level upward and use it as the stop-loss: move it up 300 points for BTC and 20 points for ETH as the stop-loss.
⚠️ Conservative traders can simply wait and enter at the add-on level. Remember to participate with a light position, and exit decisively when the stop-loss level is reached—do not hold onto losing positions!
The key BTC range to watch above is 82600–83000, while the key ETH range is 2680–2700. If prices effectively hold above these levels, the short bias can basically be abandoned!
Do not chase rallies; look for shorts on rebounds. If key resistance breaks, respect the market.
#BTC重回80K $BTC $ETH