September 8th Market Analysis from LBank Derivatives

BTC

Bitcoin(BTCUSD) bounced back to a price above $19000 and continues trading within a range between $19300 and $19000. There are still some strong resistances near $20000 and $21900. However, we can still expect Bitcoin to spike above $20000, and sadly, maybe dump deeper underneath the $17000 level. There is a bearish trend line forming with resistance near $20000 and $21900 on the hourly chart of the BTC/USD pair.

Be careful, the bulls are weak, and the only trump that they have is the 200 weekly moving average on the TOTAL crypto market cap chart because the price is above this level.

ETH

ETH here is much stronger than BTC today. Based on the 1-hour chart, Ethereum(ETHUSD)’s price is close to the resistance zone, with recent highs near $1620 and $1670. There is support near $1450. However, Ethereal is still placed in a triangle, which shows the confusion of the market. Now, the price may retest the lower edge of the triangle at around $1530. If the price breaks $1700 with a decent volume, it will form new support at the $1600 level and the next resistance is around $1850.

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/