Gu Jingci Warns of Imminent Decline in Bitcoin and Ethereum on September 6th

Bitcoin and Ethereum are due for another decline on September 6th, according to analyst Gu Jingci. After the recent non-farm payroll data led to a rapid drop in both assets, followed by a rebound over the weekend, the market is now in a consolidation phase.

The weekly charts show strong resistance above, with repeated failed attempts to break through, resulting in sustained high-level consolidation. This indicates that another test downwards could lead to a larger decline.

Gu Jingci recommends short positions for both Bitcoin and Ethereum, targeting around 77,000 for Bitcoin and 2,380-2,430 for Ethereum. If support breaks, the analyst suggests watching the 75,000 and 2,250 levels.