Analyst Liang Qiu: On October 16, Bitcoin and Ethereum fluctuated back and forth. Attached is the evening flight analysis.

CN
5 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. Since the high point yesterday, Bitcoin and Ethereum have basically maintained a low-level sideways fluctuation, and even if there are some spikes, the overall volatility is not large. The daily chart has recently shown a downward trend, with two consecutive large bearish candles quickly dropping from the high, forming a clear bearish trend. On the 2-hour K-line, there is heavy selling pressure above, and the lows are gradually moving down, presenting a pattern of oscillating downward. On the technical indicators, the MACD on the 2-hour chart continues to diverge downward, indicating that bearish momentum is dominant.

The three EMA lines show a bearish arrangement, and the formation of a death cross further reinforces the continuation of the downward trend. In addition, the appearance of the evening star pattern indicates the possibility of a bearish reversal in the market. The prices of Bitcoin and Ethereum are close to strong support levels of 109,000 and 3,900, respectively, and we need to be cautious of accelerated declines if support is lost.

Evening operation suggestions: short Bitcoin around 111,300 to 111,800, with a target near 109,500; short Ethereum around 4,050 to 4,080, with a target near 3,950.

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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