Main focus $ETH | Strategy: Buy on pullback, serving the dish first, then telling the story
$ETH surged from 2356 with three consecutive bullish candles, closing at 2619 on 9/18. The song "Chinese Can Fly" fits this $ETH rebound perfectly. Buy on pullback, enter around 2580, stop loss at 2470 (below the 9/17 opening price, a structural level), targets T1 2700, T2 2850, 5x leverage, risk-reward ratio about 1:1.1 for T1 and 1:2.5 for T2. Funding rate rose from 0.0007% to 0.0086%, bullish sentiment is back but not overheated yet. Chasing highs carries much more risk than waiting for a pullback, so waiting for a dip before going up is more prudent.
Super central bank week, the world is taking bitter medicine together
The Fed raised rates by 25 basis points to 3.75%-4.0% in the early hours of 9/17, the first hike this year, and the dot plot hints at another hike within the year, very hawkish. ECB moved first on 9/10, and the Bank of Japan followed with a 25 basis point hike to 1.25% on 9/18. The last time the three major central banks hiked simultaneously was in 2006. This time, the hike is driven by Middle East conflict pushing oil prices rather than economic overheating; the medicine is not right but must be forced down.
US stocks rose on triple witching day: Dow +0.61%, S&P +1.14%, Nasdaq +1.69%, Philadelphia Semiconductor +3.14%.
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