Analysis of Bitcoin and Ethereum Market on October 16: Today’s Highlights of BTC and ETH

Market Review

Yesterday, BTC continued to rise, breaking through with large volume, with large fluctuations in the short term. The dog dealer washed and pleased, and the long and short double explosions cleared the way for the subsequent rise. At present, the daily level golden cross has been formed, which is a very clear bullish signal. It will continue to be bullish in the future. There is a short-term correction demand during the day, which will not affect the upward trend. Those who have no hidden positions in the correction stage can follow up and build hidden positions. The weekly level golden cross will go further. When the weekly golden cross is formed, it is the signal of the bull start. The two cakes rose synchronously with BTC yesterday. Those who have built hidden positions will keep holding. They will continue to be bullish in the future. The target range of 2800-3000 remains unchanged. SA TS can continue to be held, and liquidation can be considered around 50. PEOPLE can continue to wait for mid-term holdings, and FTM can be held

Today's Highlights

BTC: 1-hour and 4-hour levels enter the overbought range, and the daily level is higher than the healthy level. Those who have short positions during intraday corrections need to follow up, and there are hidden positions to maintain. The expectation of the large cycle has not weakened. The lower support for the day is 66000-66500, and the upper resistance is 68000-68500

ETH: 1-hour and 4-hour levels enter the overbought range, and the daily level is higher than the healthy level. Those who have short positions during intraday corrections need to follow up, and there are hidden positions to maintain. The upper resistance of the day is 2670-2720, and the lower support of the day is 2520-2550