10.15 Bitcoin and Ethereum Intraday Market Analysis and Trading Suggestions

CN
4 hours ago

Morning Analysis: From the current 1-hour chart, Bitcoin's price action yesterday fell to the key support area of 110000-109500 in a one-sided staircase pattern, indicating that the support below is quite strong. Meanwhile, it has repeatedly rebounded to the pressure area around 116000 before retreating. The overall trend is oscillating significantly within a W-shaped pattern, but the daily and weekly charts clearly show a strong bearish bias. As long as the resistance in the 116000 area is not broken this week, the main strategy will be to short on rebounds.

From the daily chart of Ethereum, the price has entered a consolidation phase after a significant rise on October 12, showing a high-level retreat trend. From the current 1-hour chart, the candlesticks have repeatedly shown long upper shadows, indicating heavy selling pressure above, while the lows are gradually rising, providing some support. Overall, it is in a triangular area where bulls and bears are choosing sides. During the day, pay attention to the pressure above at 4120-4160, and the support level around 3970-3940.

Trading Suggestions: For Bitcoin, short around 113300-113800, with a stop loss at 114300, targeting 111200-110800. If it breaks down, look for 110000-109500; if it doesn't break, consider going long.

For Ethereum, short around 4150-4200, with a stop loss at 4225, targeting 4010-4040. If it breaks down, look for 3970-3940; if it doesn't break, consider going long.

This strategy is for reference only; please invest cautiously and secure profits. (Follow the public account: Ethereum Kai)

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