October 17, #山寨季何时到来？ 7 Daily Trading Thoughts

BTC Hello brothers, good afternoon to everyone! I'm back again, and I wonder if everyone has seen the analysis for trading? At 5 AM, Bitcoin rebounded and broke through 120,000 but didn't succeed, and now it has retraced. At 2:40 AM, I also mentioned in the group that Bitcoin was short at 120,000 and 120,500, with a stop loss at 120,600! Now many profits have been made! Currently, Bitcoin is retracing! Pay attention to the daily support level near 117,750! If it falls below this price, it will continue to retrace further!

Back to the market! Now Bitcoin is undergoing a 4-hour level correction! Watch for support near 117,750 below! If it falls below this price, the market will continue to retrace, with support levels at 116,500, 115,200, and 113,800! Pay attention to entering long positions!

Only if the 4-hour level retraces without breaking 117,750 can the market continue to rebound! The upcoming resistance levels are 118,500, 119,300, and 120,000! Pay attention to entering short positions!

ETH Ethereum is also waiting for Bitcoin to hit a new high before seeing a wave of catching up! I also mentioned in my post last night that Ethereum must break and hold above 3,300 to have a chance to continue pushing towards 3,500! At midnight, it also surged to around 3,425! The resistance level above is also significant, with the weekly resistance level at 3,450!

Back to the market, if the 4-hour level retraces without breaking below 3,310, the market continues to look for a rebound, with upcoming resistance levels at 3,350, 3,380, and 3,400! If the 4-hour level retraces and breaks below 3,300, the market will need to continue retracing, with support levels at 3,265, 3,230, and 3,180 for long positions to wait for entry!

SOL Solana has also surged to 176! Now it is also following Bitcoin's retracement. If the 4-hour level retraces to 168 without breaking, then the market continues to look for a rebound, with upcoming resistance levels at 171, 175, and 178! Pay attention to entering short positions! If the 1-hour level retraces and breaks below 168, the market will continue to retrace, with support levels at 165 and 160! Pay attention to entering long positions!

As usual, after Bitcoin breaks a new high, there will be a wave of altcoin catch-up; everyone can pay attention to this! $BTC $ETH $SOL