October 8 Market Analysis: BTC
Daily Level: The current pullback aligns with technical expectations. After retreating from the resistance level of $1157, it is highly likely that the daily candle will close bearish, confirming a short-term adjustment trend.
Key Support: 1135-1140 (Short-term bullish-bearish boundary). If it breaks below, we will look at the strong support range of 1125-1135.
If the intraday rebound cannot break through $1157, maintain a bearish outlook with a target below $1125.
Trading Suggestion: Lightly short at the resistance level of $1150-1157, with a stop loss at $1165, gradually looking down at $1135/$1125.
ETH
The previous low of $3350 rebounded unexpectedly to over $3700, necessitating a redefinition of the resistance range $3700-3750 as a strong pressure zone.
Aggressive traders can short in batches above $3700, with a stop loss at $3780, targeting $3550/$3450 for tiered take profits.
If it breaks through $3780 with volume, stop loss and observe, waiting for a higher level pressure signal.
The current market is in a normal pullback phase after testing key resistance. Follow the principle of "primarily bearish with key support for short-term longs," and strictly set stop losses.
Focus on BTC $1125 and ETH $3500 as key defensive levels; if broken, the trend will continue.
