Bitcoin and Ethereum Latest Market Analysis on the Evening of October 7!
Reflecting on the past, those who have succeeded in the cryptocurrency sphere have done so through unwavering belief, in-depth research, and calm judgment. They quietly accumulated during bear markets and decisively acted during bull markets, not swayed by short-term fluctuations, and consistently adhered to their goals. Bao Er Ye boldly predicts that Bitcoin will rise to 500,000 USD in the next four years, and his analysis is not unfounded, but based on a comprehensive study of market trends, macroeconomics, and other factors. This tells us that in the cryptocurrency world, we should have a long-term perspective and not be intimidated by current difficulties. Looking back at our bearish outlook given during the afternoon, the market has already moved out of our bearish perspective after breaking through the 500-point range, and we have been waiting for the price to show the next change. However, the market has continued to oscillate narrowly, failing to form a new effective fluctuation, and has now entered a buffering period, likely waiting for guidance on market sentiment.
Currently, Bitcoin is consolidating around 110,550, with upward momentum still in play, giving both bulls and bears opportunities to seize! Ethereum is also showing strong momentum during the day, currently stabilizing around 2,820, and has returned to a key position near 111,000 for high-level oscillation. If we look at the current pace, today is again a time for shorting at high levels. The recent market trend has shown a pattern of repeated oscillation and shakeout, with daytime fluctuations and the rhythm of US stocks reversing. Today's key point is whether the daytime can continue to rise and break through; if it does not, US stocks are likely to decline again in a cyclical manner this evening. Therefore, if today's market shows no volatility and lacks continuity, we will have to wait for the opening of US stocks this evening!
Operational Suggestions
Bitcoin Strategy: Short around 110,500, target: around 109,500.
Ethereum Strategy: Short around 2,790, target: around 2,720.
