Mu Feng looks at the trend: Analysis of Bitcoin/Ethereum market on the evening of October 8 with operational suggestions.

CN
5 hours ago

From a technical structure perspective, the KDJ indicator for Bitcoin/Ethereum on the daily chart has formed a high-level death cross today, while the MACD bullish momentum continues to shrink. The BOLL indicator is currently showing a slight downward fluctuation overall. On the 12-hour chart, the upper band is narrowing, and compared to yesterday, today's increase has significantly weakened, indicating that the probability of Ethereum and Bitcoin repairing the 12-hour TD13 today has increased.

It is important to note that this adjustment is initiated by both the 12-hour and daily charts, while the weekly chart remains relatively strong. Therefore, if the downward adjustment does not effectively break below the support level, it will likely continue to rise in volume along with the weekly chart. In summary, in the short term, we should take a cautious approach, step by step, as the market is unpredictable, and technical analysis can also have errors. I hope everyone can view the market and technicals rationally, especially for those of us who prefer to trade in the medium to short term; we must be grounded and proceed with caution.

Personally, I expect the overall trend this evening to move sideways with a downward correction. In terms of operations, I suggest taking short positions on rebounds, with specific points of reference as follows:

BTC: Short at 112800-113500, target 110800

ETH: Short around 4490-4530, target 4380

The market is constantly changing, and this article may have some lag. Specific operations should be guided by real-time market conditions. If you have any questions, feel free to consult.

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