10.18 Night Bitcoin Operation Analysis

There was little fluctuation in the white market today. The price of the big pie currency has just experienced a significant rise, with the highest pin reaching around 68,500, but unfortunately it failed to break through this key point. Subsequently, the currency price began to retreat downward.

Judging from the 1-hour K-line chart, after the currency price moved above the upper Bollinger Band, it encountered obvious retracement pressure. It has now returned to below the upper Bollinger Band, and the overall trend is bearish.

In terms of the MACD indicator, the two lines encountered resistance when running upwards, began to turn around and moved downwards, further exacerbating the market's bearish sentiment. At the same time, the momentum of the bulls is also gradually weakening. The three KDJ lines cross downwards and the opening gradually increases, indicating that the market may face certain downward pressure in the short term.

However, judging from the 4-hour trend, it is currently in the process of rising from the central point. Despite facing short-term correction pressure, structural analysis shows that this 4-hour rise is likely not over yet. Unless the small-level trend ends directly, there will be at least a 1-hour correction and a 1-hour rebound.

Therefore, we need to continue to pay attention to the strength of this 4-hour rebound. If it can successfully break through the 70,000 mark, bulls will at least feel at ease in the short term.

On the contrary, if it fails to break through 70,000, we need to remain vigilant, and the market may turn around and fall downwards. In this case, the market needs to at least return to around 66,500 before it can be considered that a callback structure at the 1-hour level is formed. Otherwise, it can only be considered that the 1-hour correction has not yet occurred, and the short-term may continue to extend upward.

I am more inclined to believe that the subsequent market will at least step back to around 66,500 again, and may even pull back deeper to around 65,000. The specific pullback situation requires further observation of market strength and trend changes.

Operation suggestions

Short near 68500, target 67000, break 66500

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