Bitcoin Market Analysis and Trading Suggestions for October 16 (Written at 4:55 AM):
The current price of Bitcoin is around 111,100. After a prolonged period of consolidation yesterday, as predicted, it faced resistance at the 4H midline and EMA15 range, and has once again declined to the 110,000 mark. The high short position above 113,500 was accurately captured. Fans who have not closed their positions should not rush; the downside space has not yet been fully explored. Currently, the 4H channel trend continues to evolve downward, and the lower Bollinger Band is opening downward, making it difficult to hold the 110,000 mark. The red bars in MACD are weakening, and both DIF and DEA are attempting to form a death cross. KDJ and RSI have turned upward but are already in the oversold zone, increasing the risk of a short-term pullback!
If the 110,000 mark and the daily EMA160 are lost, breaking the low point of several days of consolidation, it will reach the EMA200 (107,876) and the lower band range. Currently, the daily death cross is still ongoing, and the DIF line has entered a negative state below the 0 axis without convergence. Both KDJ and RSI are showing high-level downward divergence approaching oversold conditions. It is advised to avoid chasing long positions in the short term; the strategy should remain focused on high short positions during pullbacks. The upper pressure can be monitored at the 4H midline and the daily EMA120 position.
Sell Point: ≥112,300 light short, add above 113,500, stop loss above 114,000; take profit at 111,200-110,300; if it breaks below 110,000-109,500, it can continue to hold down to below 107,900!
Buy Point: ≤107,900 light long, stop loss below 106,600; take profit at 109,500-110,500-111,500; if it breaks above 112,000-112,500, it can continue to hold!
There may be delays in article review and push notifications; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!
Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road ahead is long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope that in the days to come, you will always maintain a thirst for knowledge and a spirit of exploration for the unknown.
Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and enhance your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever you are, I am cheering for you and looking forward to your wonderful performance. I wish everyone smooth sailing on the cryptocurrency journey and a bountiful return!
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