October 23 Market Analysis
Yesterday's Market Review
Yesterday, BTC continued to consolidate and retrace, with no obvious bearish signals. It remains purely a capital sell-off, possibly the market maker is washing and adjusting to reduce resistance for a subsequent rise. Currently, the daily trend remains strong, and the downward momentum on the 4-hour chart is beginning to weaken. Today, we observe and pay attention to the support situation at 66000-66500. A retracement to this range could be considered for partial accumulation. The weekly golden cross has formed, so maintain your holdings and have confidence.
Yesterday, ETH also retraced in sync, dropping to around 2600. Today, we similarly observe and focus on the support situation at 2550-2600. A retracement to this range could be considered for partial accumulation. Maintain your holdings, and continue to be bullish with the target range remaining at 2800-3000. SATS can continue to be held; around 50 could be considered for full liquidation. For PEOPLE, medium-term holdings can continue to wait. FTM should be held.
Intraday Market Analysis
BTC is below healthy levels on the 1-hour and 4-hour charts, while above healthy levels on the daily chart. Today, we observe and wait for the adjustment to end. Those with positions should hold. The expectations for the larger cycle have not weakened. Intraday support is at 66000-66500, and resistance is at 68000-68500.
ETH is below healthy levels on the 1-hour and 4-hour charts, while above healthy levels on the daily chart. Today, we observe and wait for the adjustment to end. Those with positions should hold. Intraday resistance is at 2670-2720, and intraday support is at 2550-2600.
