10.21 Bitcoin (BTC) Market Analysis Reference

The intraday market has once again entered a period of consolidation. Recently, due to the price not breaking through again, market enthusiasm has begun to weaken, and some funds have taken profits, leading to a further lackluster price trend. The news from the cryptocurrency sector is concerning.

Bitcoin's intraday market is under pressure and has shown a pullback. Subsequent bullish sentiment has weakened, and the price is continuously testing downward, currently operating at the 110600 level. The trend's pullback has already swallowed the intraday gains, and the short-term support at the 110000 mark has been broken. From the short cycle hourly chart, the trend rebound is again under pressure, giving a pullback signal for the short term, so there is a risk of further downward movement in price; I hope everyone is prepared in advance. Currently, the trend is leaning downward, so it is recommended to focus on short positions during rebounds, with long positions as a supplement. Attention should be paid to the short-term resistance at 112000-111500 above, and the support at the 11000 midline below.

10.21 Bitcoin Short-term Reference:

Downward testing points 112500-111500 short, stop-loss at 114800, target below 111800, stop-loss: 500.

Upward testing points 107500-108500 long, stop-loss 500, defend at 105000, target above 109500, #BTC #ETH #BTC突破7万大关