Mu Feng looks at the trend: Analysis of Bitcoin/Ethereum market on the evening of October 9 with operational suggestions.

CN
4 hours ago

From a technical structure perspective, the daily KDJ is showing a death cross and moving downwards. In terms of MACD, the DIF has accelerated its downward movement today. The BOLL is currently maintaining an overall downward oscillation posture. Today's cryptocurrency price has again declined, and the current price has fallen below the five-day moving average, indicating that market selling pressure is still too strong.

On the 12-hour level, the KDJ and MACD are showing a strong and urgent death cross downwards. The price has broken below the middle band of the BOLL (this break could change the short-term trend pattern). The increase in price yesterday did not stabilize the market price above the daily MA5 moving average (the so-called break was ineffective). Therefore, this evening we will see a southward volume increase after failing to break the resistance. In terms of operations, it is advisable to treat rebounds as short opportunities. Specific points of reference are as follows:

BTC: Current price 122800-123500 short, target 120800

ETH: Current price around 4380-4420 short, target 4280

Market conditions change rapidly, and this article has a certain lag. Specific operations should be guided by real-time market conditions. If you have any questions, feel free to consult.

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