2024.10.22 9:06 AM BTC Market Analysis
BTC experienced significant volatility yesterday, breaking through 67850 and currently consolidating around 67150, with a low of 66536, hitting the critical point of 66550!
Last night, the price rebounded multiple times, hitting 67850, which indicates the demand for a retracement after breaking through the critical point, as well as the momentum for indicator recovery. After the first encounter with 66550, it rebounded but was suppressed by the midline at 67150. Whether it can stabilize above 67150 remains to be seen!
BTC Focus
Support 65750/64450/63260
Resistance 67850/69800
Consolidating in the range of 66550-67850 is crucial, as these are the key points above and below at the moment. The probability of effectively breaking below 66500 during the day is low, and a false breakdown testing support strength can be seen as an opportunity for short-term trading!
BTC leads the adjustment, while altcoins have not yet followed suit significantly! Contract Suggestion: Continue to look for opportunities during the day; today's safety is higher than last night's. Don't take action if no opportunities arise; if opportunities do arise, just take small positions with stop-loss! Spot Suggestion: There’s no rush to add back positions after reducing them in yesterday's morning session; long-term positions don't need to be adjusted, and don’t lose faith every few days!
