10.29 Bitcoin (BTC) Market Analysis Reference

Bitcoin has recently rebounded strongly from a low pullback at the 106000 level. The market has warmed up in the past few days, and the price has increased. From a technical perspective, this trend represents a rebound recovery process after a significant drop. Since the overall decline in this wave of Bitcoin has exceeded two points, the repair strength in a short period is relatively strong. Mr. Coin reminds everyone that just because this wave of rebound has reached several thousand points, it should not be mistaken as a signal for a bullish rebound. In fact, looking at the daily level trends, if the short-term rebound does not break through and stabilize at the 116000 level, the downward trend will still exist, so do not assume that the repair and consolidation of the market is a sign of reversal.

Looking at the short-term hourly chart, the market has surged to touch the 116380 position, facing resistance and adjusting downwards. The short-term price is testing downwards, and the decline has exceeded more than 2000 points, reaching below the 113500 area. The trend shows a back-and-forth interplay between bulls and bears, with significant volatility in a short time. The focus for the future should be on the support at the lower track of 111500. If it does not break down, the market is expected to rebound, and the short-term price is likely to continue testing the 116000 level. Conversely, if it subsequently breaks below the 111500 level, there is a risk of downward movement. All coin friends should be prepared in advance. Short-term resistance still focuses on the stabilization around the 116000 level.

10.29 Bitcoin Short-Term Reference:

Short sell point 115500-116500, defend at 118800, stop loss: 500, target below 114300,

Long buy point 111500-112500, stop loss 500, defend at 108000, target above 113300, #加密市场回调 #BTC #巨鲸动向 #BTC🔥🔥🔥🔥🔥