September 21st Market Analysis from LBank Derivatives

BTC

Bitcoin(BTCUSD) is quite stable on the last trading day. However, sellers are still in a commanding position. Now, we need to watch closely if BTC can maintain prices above $18500 and $17500 in short term. BTC bulls will only have a chance if the prices hold strongly here and recover above $22500- reversing the losses of 13th September.

Resistance level to watch out for: $20k

Support level to watch out for: $18.5k

ETH

ETH(ETH/USD) has been weaker than BTC since the merge was done. Overall, the two charts are quite similar recently. There are actually two events that may cause a lot of volatility today- On one hand, we have the fed meeting and corresponding press conference. On the other hand, Putin is expected to make a speech perhaps involving mobilization.

Resistance level to watch out for: $1400

Support level to watch out for: $1280

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