10.13 Bitcoin and Ethereum Intraday Market Analysis and Trading Suggestions

CN
5 hours ago

Morning Analysis: Looking at Bitcoin from a weekly perspective, the price quickly washed out after breaking a new high and then rebounded above the weekly midline. However, a double top has formed above, and the weekly indicators lean towards a bearish trend. On the daily chart, after a significant drop, Bitcoin's price quickly spiked up but did not break the upward trend. In the short term, it is also seen as a rebound phase, with intraday resistance focusing on the 117500 level.

Ethereum's short-term movement formed a long upper shadow on October 12, with a peak of 4200 close to the previous high area, indicating strong selling pressure. Today, a small bearish candle was formed, with the price oscillating between 4100 and 4200, failing to break yesterday's high. The technical indicator MACD is in the negative zone, with the histogram continuing to show green bars, but they are shortening, indicating weakening bearish momentum. However, a bearish engulfing pattern has formed on the weekly chart, and the overall trend has returned to the pressure zone around 4200, specifically at 4230-4250-4270. If these pressures can be effectively broken, there is a possibility of a short-term trend reversal to the upside.

Trading Suggestions: For Bitcoin, consider buying on a pullback near 114300-114800, with a stop loss of 1000 points, targeting around 117000-117500. If broken, look for targets around 118800-119300; if not broken, consider shorting.

For Ethereum, consider buying on a pullback near 4080-4110, with a stop loss of 60 points, targeting around 4250-4270. If broken, look for targets around 4380-4410; if not broken, consider shorting.

These strategies are for reference only; please invest cautiously and secure profits. (For real account updates, follow the public account: Ethereum Kai)

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