September 14th Market Analysis from LBank Derivatives

BTC

Bitcoin (BTCUSD) dropped around 8% after the CPI print in the U.S- it actually dropped 4% in minutes when CPI was announced. As the actual inflation is higher than expected, the new expectation for FED is to have another significant rate hike in November. Now, the BTC price is trading around the first support level between 20500 and 19600. The failure of Bitcoin to stay above the immediate support /resistance line around 21900 is very bearish. The next support level is 18500; if BTC goes back to 21900, the next resistance is 25200.

ETH

ETH(ETHUSD) here is a little stronger than BTC today. Based on the 1-hour chart, there are 4 consistent green bars with decent volume. However, the rebound ends at around 1620. The merge is going to happen after a day, it is a concern for the market participants that it will cause the “ sell the news” effect. It is still recommended not too long at the moment. Wait for the dust to settle.

LBank perpetual contracts are settled in USDT and are not inverse contracts. There is no expiration or settlement of perpetual Contracts. Now we have BTC perp, ETH perp, Dot perp, Sol perp, and other over 100 kinds of popular coins online. The available leverage is between 1–125. One of the key benefits of USDT-settled contracts is that you can easily calculate your returns in fiat. When the market suffers a wild fluctuation, this tool can help you lower your risk.

Click here to download it for iOS or Android

Website: https://lbank.info
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/