BTC Surges: Jiangfeng Capital Adjusts Trading Strategy

Jiangfeng Capital has shared an update on their trading strategy following Bitcoin's rapid surge to near $87,400. According to Jiang Feng, the market has moved beyond expectations in the past two days, with BTC jumping from around $80,000 and ETH breaking through $2,600 to reach around $2,800.

The recent consecutive large net inflows for BTC ETFs, totaling nearly $1 billion on September 21, indicate that this rally is being driven by spot funds. Jiang Feng has closed all open positions, returning to a rational analysis and an empty position to separate themselves from trading obsession.

Jiang Feng now recommends watching the first short-term support at the 85,000-85,500 range for BTC. If there's a pullback and stabilization here, consider going long with a stop-loss below $84,000. Targets include the 86,600 ~ 88,500 ~ 89,500 ~ 90,900 ~ 91,800 range.

If BTC continues to climb directly, focus on the 89,500-90,900 range. If there's a clear spike and pullback here, try a light short position with a stop-loss above $92,000 and targets at 88,000 ~ 86,500 ~ 85,000.

Jiang Feng also advises caution when it comes to ETH, recommending not to chase longs in the short term. The current price near $2,760 is close to an important previous resistance area, with first support at 2,680-2,720.