Last night, several senior Fed officials made hawkish remarks, and the whale sold 800 bitcoins, which caused panic in the market and led to a drop in prices.
However, the good thing is that Mt. Gox's bitcoin repayment deadline has been postponed again to October 31, 2025. The market performance of the past two days was a market crash in the early morning and a rebound in the daytime. Short-term traders are tired of these fluctuations. Last night I reminded everyone to pay attention to the bottom divergence of the 4-hour chart and provided some pending order points. Currently, Ethereum and Solana have achieved good returns.
For Bitcoin ($BTC), it quickly repaired after a false breakthrough of the 60,000 mark. At present, it has formed an ABC three-wave structure since the decline of 66450. The bottom divergence appears in the 4-hour chart, and it may stop falling and rise at any time. If Bitcoin can rebound to around 61200, Ethereum and altcoins are expected to rebound strongly.
Ethereum ($ETH) fell less than Bitcoin last night. The 4-hour chart shows a bottom divergence, and it is not recommended to continue shorting. MACD is about to cross, and the price has not broken the rising trend line, so before it falls below the 2330 low, my operation idea is still to go long at a low level.
Solana ($SOL) has the strongest rebound among mainstream currencies, forming an obvious low-level bullish pattern, and can be considered for entry first. The hourly chart broke through yesterday's high of 140.78. Although there was a large amount of liquidation in the early morning, the market is likely to reverse in the short term.
Regarding altcoins, Ath launched a $100 million ecological fund for game and artificial intelligence construction, Uni launched Op to build L2, Bigtime launched CB, and Wife plans to raise $300 million next week.
Today's strategy is as follows:
Bitcoin: Go long in the 60400-60121 range, stop loss 58900, target 62500.
Ethereum: Go long in the 2381-2352 range, stop loss 2330, target 2460.
Solana: Long in the 140-137 range, stop loss 135, target 147.
