Analyst Liang Qiu: After a rapid decline on October 8, Bitcoin and Ethereum are consolidating sideways. The support is effective, and there is still room for a rebound.

CN
4 hours ago

Follow for more, earn millions. Hello everyone, I am analyst Liang Qiu. Here I share my views, hoping that every friend who follows can achieve good returns!

You can follow the public account Analyst Liang Qiu bb, focusing on mainstream coin guidance and layout. Bitcoin and Ethereum saw a rapid rise to new highs yesterday, followed by a decline throughout the night. Currently, the market continues to enter a narrow range of fluctuations. However, this decline and consolidation after a significant rise is itself a sign of trend strengthening. The trend after Bitcoin broke 120,000 is clearly strong, and we need to pay close attention to the support at this key level moving forward. The U.S. government shutdown has delayed data releases, leading to a flow of risk-averse funds into gold and the cryptocurrency market. Gold has repeatedly broken new highs, and after consolidating, the crypto market also shows a continuation of a strong trend.

In terms of K-line patterns, the daily level shows a long upper shadow yesterday, indicating heavy selling pressure at high levels, followed by a price drop to near previous lows, forming support. The recent K-line at the 4-hour level shows weak fluctuations, with consecutive small bearish candles and doji patterns, reflecting cautious market sentiment. On the technical indicators, the 4-hour MACD histogram continues to stay below the zero line, and after the DIF and DEA crossed downwards, it is gradually expanding downwards. However, it has stabilized and rebounded, and as long as the support below holds, it will continue to build momentum for a rise.

For evening operations, it is recommended to go long on Bitcoin around 121,500 to 122,000, targeting around 124,000; for Ethereum, go long around 4,430 to 4,460, targeting around 4,560.

Currently, the market outlook is relatively good. I recommend trading altcoins like ORDI, LPT, SOL, and UNI in a swing trading manner, with specific operations based on real-time guidance. For more strategies, you can follow the public account: Analyst Liang Qiu bb.

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