10.17 Bitcoin and Ethereum Intraday Market Analysis and Trading Suggestions

CN
22 hours ago

Intraday Analysis: From the current 4-hour chart, Bitcoin is in the stage of a rebound after breaking down from 108,000. The candlestick chart shows a continuous decline, with prices being consistently pressured by the downward trend line, moving closer to the lower Bollinger Band. Moreover, the key support zone of 108,000 has been repeatedly breached, indicating that bearish momentum has been further released. If it cannot quickly recover above 110,300 in the short term, it will continue to test the support around 107,000 or even lower.

Ethereum's short-term trend continues to pull back, forming a high-level retracement rebound. It is currently in the rebound phase but has not broken through the previous high of 4089. The 1-hour chart shows a fluctuating upward trend, with today's candlestick closing price at 3920, which is close to the EMA7 moving average on the hourly chart, providing some support. The technical indicator MACD on the hourly chart shows a gradually shortening histogram, with the fast and slow lines still below the zero axis, indicating that bearish strength is weakening but has not yet turned bullish.
The EMA on the hourly chart at 73906 is close to the current price, providing support; the EMA30 moving average at 3960 and the EMA120 moving average at 4044 are resistance levels.

Trading Suggestions: For Bitcoin, consider shorting around 110,300-110,800, with a stop loss at 111,300, targeting the area around 108,500-108,000. If it breaks down, look for 107,000-106,500; if it does not break, consider going long.

For Ethereum, consider shorting around 3985-4035, with a stop loss at 4050, targeting the area around 3800-3780. If it breaks down, look for 3720-3700; if it does not break, consider going long.

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

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