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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

BTC Eyes Sub-$19,000 with ETH Facing a Fall to Sub-$1,450

Cory Russell

Sep 06, 2022 16:03

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Bitcoin (BTC) increased by 0.85% on Sunday. BTC gained 2.21% to reach $20,03 at the close of the week, reversing a Saturday decline of 0.68%. BTC rebounded from a low of $19,589 to a high of $20,039 in the last hour before easing down.


Ethereum (ETH), which had lost 1.14% on Saturday, gained 1.35% on Sunday to close the week up 10.73% at $1,579.


Following the general market, ETH dropped to a low of $1,541 before reaching a high of $1,584 in the last hour. Investor anticipation of the impending Merge offered assistance, while Fed apprehension maintained ETH below $1,600.


Despite the US markets being closed for Labor Day, investor caution dominated the cryptocurrency market going into the Monday session. Investors in cryptocurrencies are in the dark about the Fed's rate rise in September.


Although the US job market statistics from last week were worse than anticipated, inflation is still much higher than the Fed's target, which signals front-loading for the rest of the year. After Friday's statistics, former Fed Chair and US Treasury Secretary Janet Yellen emphasized the Fed's obligations. The remarks made by Yellen are still relevant.

Bitcoin Price Action (BTC)

BTC was worth $19,746 at the time of writing, a decline of 1.28%. BTC saw a negative morning, dropping from a high of $20,060 to a low of $19,637.


At $19,715, BTC momentarily breached the First Major Support Level (R1).

Technical Significance

In order to support a run at the First Major Resistance Level (R1) at $20,165, BTC must cross the pivot point at $19,877. To break beyond the morning high of $20,060, BTC requires support from a larger portion of the market.


BTC would challenge the Second Major Resistance Level (R2) at $20,327 and resistance at $20,500 during a prolonged crypto rise. At $20,777, the Third Major Resistance Level (R3) is located.


If the pivot is not moved through, the First Major Support Level (S1) at $19,715 remains in play. In the absence of a prolonged sell-off, BTC should stay above $19,000. The decline should be constrained by the Second Major Support Level at $19,427.

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