Gu Jingci Sees More Downside for Bitcoin, Ethereum Amid Rebound
Analyst Gu Jingci shared his views on September 10, stating that Bitcoin and Ethereum's price fluctuations were as expected. According to him, short positions set up during yesterday's rebound at 79,200 for Bitcoin and 2,510 for Ethereum proved effective, with the market dropping to around 77,700 and 2,440 respectively. The daily chart showed three consecutive bearish candles indicating a weakening trend, while the three-day chart displayed a rounded top pattern suggesting further downside potential ahead.
The moving averages on the daily and four-hour charts were turning downward, capping the price at around 2,490 for Ethereum and 79,000 for Bitcoin. As the market rebounded, Gu Jingci advised continuing to enter short positions in Bitcoin near 78,500-79,000, targeting around 77,000, and in Ethereum near 2,480-2,500, targeting 2,380-2,430.
It's essential to note that the content of this article solely reflects Gu Jingci's opinion and does not represent Bitget or any other entity. The article is not intended as a reference for making investment decisions.