10.16 Bitcoin Morning Market Analysis
Core Viewpoint: Consolidation and Power Accumulation, Bullish Structure Unchanged, Firmly Layout for Long Positions!
The current Bitcoin market is in a narrow range consolidation phase, and has not yet formed a clear unilateral trend, but the overall bullish framework remains intact. From the market logic perspective, the short-term consolidation is essentially funds preparing for the subsequent hype around the 'Federal Reserve's interest rate cut expectations'. As the expectations for rate cuts gradually heat up, the probability of breaking out of the consolidation range and starting an upward trend in the future is very high.
Specific Operational Thoughts
- Entry Reference: Gradually build long positions in the range of 110500 - 111000, relying on the lower support of the consolidation for a more stable entry.
- Target Range: First target 113000, second target 115000, ultimate target looks to 118000.
- Risk Control: Set the defensive position below 110000, if it effectively breaks down, then temporarily adjust the bullish outlook.
