10.21 Bitcoin continues to be strong this week, and Ethereum convergence triangle breaks through and makes up for the rise
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On the weekly chart of Bitcoin, its closing action strongly breaks through the constraints of the rising flag. It opened higher this week, reaching a high of 69,500, which is only one step away from the key point of 70,000 of the bearish deep-sea crab pattern we predicted earlier. This round of market rebounded from the low point of 58,946 and returned to above 60,300, and reminded the layout here, and then took advantage of the breakthrough of the downward trend line to increase the position. The whole process has accumulated a huge profit of up to 9,000 points.
At the same time, Ethereum is not to be outdone. After breaking through the 4-hour trend line, it began to make up for the rise. It is worth noting that the weekly MACD indicator is undergoing a transition to the zero axis, and the crossover of the fast and slow lines indicates the official start of the weekly level rebound. Bitcoin's daily trend is also exciting, with continuous breakthroughs, reaching the 69,500 area.
In the short time frame, in the 4-hour and 1-hour level charts, Bitcoin has walked out of a rising channel with a lower slope, showing its strong market momentum. For investors who have not yet entered the market, we still recommend staying calm and avoiding blindly chasing highs, because the pullback will still be a good opportunity to enter the market, and we will continue to provide reminders for the specific position of adding positions.
From the 4-hour chart, the intraday trend is still continuing the bullish trend, breaking through new highs upward. The current high has been refreshed to the 69,500 line, only one line away from the 70,000 mark! The current trend has been adjusted, but the bulls are still strong, so it is recommended to sell high and buy low.
Personal suggestion: Bitcoin 68300-68500 long, target 69500-70000. Short entry point: 69800-70000 short target: 68500-68300
Ether: 2700-2730 long, target 2800-2850. Short entry point: 2820-2850 short target: 2700-2730
——The above article is written by Li Hong Trend. The article is only a personal opinion. The points of each platform are inconsistent. Click the avatar to connect with the author for real-time market information. The above analysis content only represents the author's personal opinion and does not constitute a specific operation. The article has a lag. If you operate based on this, you will be responsible for your own profits and losses. Investment is risky and you need to be cautious when entering the market.
