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Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: October 21, 11:53 Beijing time
Market Information
- The probability of the Federal Reserve lowering interest rates by 25 basis points in October is 99.4%;
- The Federal Reserve may stop reducing its balance sheet in October;
- Federal Reserve officials state that stablecoins can be supported by Bitcoin;
- President Trump: China may face a 155% tariff if no agreement is reached;
- Citigroup: Stablecoins may drive a new growth phase in cryptocurrencies;
Market Review
Bitcoin fell to a low of 103,469 on Friday, rebounding after weekend fluctuations. As of now, the rebound high is at 111,648. Ethereum's short-term low is at 3,672, with a rebound over the weekend, and the current rebound high is at 4,083;
Market Analysis
Bitcoin
Looking at the 4-hour chart, the rebound strength after the previous decline did not reach the key resistance area. The 200-day moving average above is under pressure, leading to a decline. However, the first drop after the rebound did not break the previous low of 101,668. The weekly closing situation shows that the bullish strength is not very strong. The weekend saw a rebound, and yesterday continued to rise. When the short-term first resistance near 111,000 was reached, the market began to stall, indicating that the bullish momentum is not very strong. Currently, the 4-hour chart shows a bearish candle, and short-term declines will continue. Pay attention to the situation of breaking the short-term low of 103,469. In daytime trading, Bitcoin can be shorted, with a recommended entry point near 110,000 and a stop loss at 112,000. The target is in the range of 106,500-105,000. After reaching the target, do not rush to go long; pay attention to the breaking situation of 103,469 and make new arrangements based on the trend. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
Ethereum
The 4-hour chart of Ethereum is similar to Bitcoin's trend. The rebound strength after the previous decline is also insufficient. The rebound strength over the weekend did not reach the pressure near 4,110. The bullish strength is not very strong. If Bitcoin faces short-term downward pressure, Ethereum will follow suit. In the short term, there is still space for Ethereum to decline. Pay attention to the breaking situation of the short-term low of 3,672. In daytime trading, focus on shorting, with a recommended entry point near 3,980, a stop loss at 4,080, and a target of 3,830-3,760. After reaching the target range, do not rush to go long; pay attention to the breaking situation of 3,672 and manage your entry opportunities. For short-term trading, control risks and manage your own profits and losses.
In summary:
Bitcoin and Ethereum still have short-term downward space; pay attention to the breaking situation below;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
In the cryptocurrency world, some people's demands can only be met by scammers. Everything cheap must be taken advantage of by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every trade goes as planned. That is just noise in the pursuit of profit. Compared to pursuing technical breakthroughs, I pay more attention to psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even a small piece of happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, people in the cryptocurrency world.
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