09.09 Evening Market Perspective | BTC & ETH 1-Hour Cycle Special Edition
I. Market Overview
The 1-hour Bollinger Bands are converging. After previously surging to a peak and pulling back, the market has entered a choppy rebound. ETH faced resistance at 2547.47 and saw a short-term upward rebound, with the MACD lines maintaining a bullish stance and red bars slightly expanding. BTC rallied to 82,258 before pulling back and then witnessed a corrective rebound, with lows gradually moving higher. Volume has increased compared to the surge phase, but there hasn't been a strong one-sided rally; overall, it's still a range-bound trading situation.
II. Key Support and Resistance for the 1-Hour Chart
ETH
Current price: 2,491.97
Resistance range: 2,525‑2,547
Support range: 2,450‑2,470
BTC
Current price: 78,980.6
Resistance range: 80,100‑81,200
Support range: 77,900‑78,300
III. Long and Short Trading Setups
ETH
Long entry range: 2,453‑2,468, stop loss at 2,432, first take profit at 2,515, second take profit at 2,538
Short entry range: 2,528‑2,542, stop loss at 2,563, first take profit at 2,482, second take profit at 2,455
BTC
Long entry range: 78,000‑78,250, stop loss at 77,550, first take profit at 79,600, second take profit at 80,400
Short entry range: 80,050‑80,300, stop loss at 80,900, first take profit at 78,700, second take profit at 78,050
IV. Macro & On-Chain Supporting Analysis
After the market correction, buying support has emerged below, and short-term short positions have realized profits. There has been a slight return of low-price addresses on chain, with a rebound in the proportion of bullish positions. External macro news remains calm, with price action driven primarily by technicals. The one-hour cycle is now in a post-correction rebound phase, so the priority is to buy low and sell high within the range. Focus on whether resistance above can be effectively broken; only after a breakout will a new upward move open up.
