10.16 Will the Bitcoin bulls continue? Bitcoin market analysis
#Meme浪潮持续，你看好哪一个？ #BTC能否站稳6W6 #美股财报季来袭 #加密市场急跌
In terms of Bitcoin, during the white session yesterday, its price fluctuated and adjusted in a narrow range, but suddenly exerted force in the late session, soaring to a high of 67950, and then quickly fell back, hitting a minimum of 64800 before rebounding. The overall volatility exceeded 3000 points, showing the violent fluctuations of the market. This rebound after a sharp drop is an indispensable part of a healthy upward trend. By stepping back, the upward structure is consolidated and the foundation for subsequent continuous rise is laid. We are full of expectations for the market in October, especially the second half of this month, which will be a critical period to determine whether it can break through the large box and create a new historical high.
I firmly believe that as long as Bitcoin can successfully stand on the 70,000 mark, then the impact of the historical high is just around the corner. Of course, if this feat can be achieved, even if it rises to 80,000 or even higher in the future, the short-term support will focus on the 64,500-63,500 line. In yesterday's article, it was mentioned that Bitcoin's daily line has formed a double bottom upward trend. If the short-term pressure level is 66,500 and can effectively break through and stand firm at this position, it is expected to rebound further to 68,000 US dollars. The price reaching 69,750 is also a perfect prediction. At the same time, personal suggestions are also given. Bitcoin is short near 66,500-66,000, with a target near 64,500. At this time, you can pay attention to the support at this position. If it does not break 64,500-64,800, enter the market. Target 66,500. Successfully achieve long and short stop profit. Congratulations to friends who follow the operation here. Today, we still use the idea of shorting first and then longing at 67,000-67,500, with a target of 64,500-63,500. At the same time, pay attention to the support. If it does not break 64,500-63,500, you can cover the long position.
——The above article is written by Li Hong Trend. The article is only a personal opinion. The points of each platform are inconsistent. Click on the avatar to connect with the author for daily real-time market conditions. The above analysis content only represents the author’s personal opinion and does not constitute specific operations. The article has a lag. If you operate based on it, you are at your own risk for profits and losses. Investment is risky and you should be cautious when entering the market.
