10.23 Jiang Wei Evening Analysis: Bitcoin bulls begin to weaken, the era of bears arrives this week.

CN
2 months ago

October 23, Wednesday BTC Evening Analysis

Throughout the day, there were multiple attempts to short from the upper levels. As anticipated, the price has entered a downward trend, directly breaking below the support level of 66500 over the past two days, leading to short sellers exiting with profits.

In the evening session, the four-hour chart shows four consecutive bearish candles. The price has fallen below the lower boundary area, causing indicators to move downward, indicating that there is still room for further bearish movement. The MACD indicator continues to show an increase in bearish momentum, with the fast and slow lines dropping below the zero axis. Therefore, we maintain a bearish outlook for the evening session.

Reference Strategy: Short in the 66600-66900 range, targeting a break below the 65000 level and aiming for the 64000 level.

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