Bitcoin and Ethereum made a strong rebound over the weekend! Currently, Bitcoin is fluctuating around 111700, and Ethereum is fluctuating around 4100. This week, the non-farm payroll data is coming in strong, operations need to be cautious, enter and exit in batches, avoid being affected by the market's violent fluctuations, and do not blindly chase highs or cut losses!
BTC
Bitcoin has broken through the support level and is in a fluctuating range, making a strong rebound. It is currently close to the 112-113K resistance area, and the risk of chasing long positions is high; it is recommended to wait for a pullback to go long. If the rebound appears weak, consider shorting.
This round of decline is similar to the market situation at the end of August and the beginning of September, falling to the daily Vegas channel and the lower Bollinger band support. The daily MACD has improved, and the upward trend may continue.
The four-hour and one-hour levels show that 111700-113500 is a concentrated area of chips, and a breakthrough needs to look at the volume after filling the gap. For intraday operations, it is recommended to wait for a one-hour level pullback to the support level of 111400-111000 without breaking, then enter long positions.
ETH
Last Saturday, I predicted that Ethereum would rebound to 4112-4150, judging it would stop falling, and it has fully met expectations. Currently, this is just a rebound at the 8-12 hour level, and the trend has not yet reversed.
Wait for ETH to rise to 4300 and stabilize at 4220, and the 3-day MACD must give a stop-loss signal before confirming the trend reversal, suitable for bullish positions.
Last night, the pullback to 3962 has become a secondary support, and low long positions are safer. Currently, Ethereum has support at 4072/4062, 3962, 3933, 3850, 3822, 3670, etc., making short positions difficult to take profit. The accelerated decline last week has ended, and if ETH rises another 160 points, the trend will reverse, making low long positions in October more cost-effective.
Short-term operations are simple: after a rebound, buy near the support point and set a stop-loss.
Altcoin
SOL
Short-term resistance is at 215-216, low long positions can take profit around 214 and consider short positions. A breakthrough at 216.55 will turn to bullish. Although the short-term reversal is not confirmed, the risk of a deep pullback is reduced, and re-entering low long positions is safer. A weakening decline indicates strength.
This week's news is dense, and declines will serve as a foundation for future rises. It is expected that after the SOL ETF is approved in mid-next month, institutional funds will drive the price up to 500-800 or even 1000 dollars in the long term. Spot trading can begin long-term holding, and after a significant pullback, additional positions can be added; the future is promising.
PEPE
Historically presented in an upward channel, currently breaking below the bottom, similar to the last false decline followed by a strong pull. Hanging a breakout order above the descending trend line; if it breaks through, follow long; if it continues to decline, watch for a while. If ETH stabilizes, the probability of PEPE rising is high. Entering at the September low, clearing positions at high points before and after the October interest rate cut, the cryptocurrency market looks promising!
MERL
Increased from 0.06 to 0.3, a fivefold increase. On-chain staking of 232 million coins (accounting for 23.7% of circulation), low circulation, easy to pump, worth paying attention to.
PUMP, PENG:
SOL ecosystem coin, October ETF approval will drive prices up, worth paying attention to.
ROAM:
Also part of the SOL ecosystem, the Korean community is active, with strong node deployment, and KBW is increasing the heat. After stabilizing at 0.1, there is hope to challenge 0.12-0.13, and positions can be added in batches; do not chase high.
