Bitcoin surged again during the National Day holiday, with gold reaching a historic high of 4049. Besides monitoring the market, I prefer to study the patterns; the performance of Bitcoin in Q4 every year has been consistently good, and the starting time is usually around the end of September after a pullback 🔛.

Bitcoin opened with a new high after a week of a new moon, and the weekly bottom divergence has been noted. Some fans mentioned that they couldn't see a reversal on the weekly chart, but I said that by the time the weekly chart shows a clear signal, the market has already moved significantly. After reaching a new high of 126208, it continued to pull back to around 120000. It is not suitable to chase the price in the short term; consider adding positions after a pullback.

Ethereum has also confirmed my prediction of a false breakdown in the range, followed by a rebound. This pattern has occurred several times and requires Bitcoin's cooperation. After the daily chart touched 4755, it also pulled back to the top of the range. This situation is similar to late June and early July; as long as it stays above MA20 and MA60, there is a chance for a rebound.

Bitcoin

Here are three points: First, I previously mentioned that every time the OBV indicator's white line breaks above the yellow line and retests without breaking, it will continue to rise, and it has already played out.

The second point is that the daily chart has returned above MA120, initiating a rebound within this range. It has currently reached the top of the range and is under pressure; we will look for bullish opportunities again.

The third point is the weekly MACD bottom divergence; pay attention to the opportunity for the histogram to cross the zero axis.

Support: 117000 to 119000

Resistance: 126208 to 138000

Ethereum

Ethereum has been oscillating above 4000 for two months and has replicated the previous false breakdown of the range. I mentioned this situation at least a month in advance, and friends who have been following me should have seen it.

Next, we will look at the ETH/BTC exchange rate for a potential rebound. The exchange rate is under pressure from a descending trend line; pay attention to the breakout of this trend line, which could lead to a rebound. There is also a chance for a wave of altcoin rebounds.

Support: 4280 to 4400

Resistance: 4755 to 4956

If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!

The article is time-sensitive and for reference only; it is updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Official account: BTC Trading Prince Fusu

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