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Gu Jingci: Bitcoin/Ethereum surged and then fell back on September 12th; what are the main players' intentions as the weekly chart is about to close?

2026-09-12 09:19:54
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Bitcoin/Ethereum surged again last night, reaching around 79880 and 2666 respectively, before falling back all the way down. Bitcoin erased all its gains, while Ethereum fell to a low of around 2500. Our two short positions yesterday basically broke even. Currently, the price has pulled back after the surge. Last week's weekly close was around 80300 and 2513, so Bitcoin is highly likely to surge and then fall back, closing lower and breaking the previous week's low of 76200 to around 75800. Ethereum's overall trend is stronger, but the weekly chart also shows a long upper shadow. In the short term, we should continue to watch the 78000 and 2550-2560 resistance levels, which are also the previous short-term highs on the daily chart. Looking at the four-hour chart, Bitcoin's pullback and consolidation after the surge is a clear continuation pattern in the downtrend, and we should watch for further declines. Trading suggestions: Short Bitcoin around 77,500-78,000, target around 76,000; Short Ethereum around 2,535-2,550, target around 2,430-2,470. Analysis and strategies are for reference only; please bear your own risk. Article review and publication are not timely; please refer to real-time information.
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