Bitcoin market overview on October 21

I. Overview

This week, Bitcoin closed strongly, and the weekly big positive line confirmed the bullish strength. After stabilizing at 63,500, it rushed above 69,000, exceeding market expectations and showing strong bullish momentum.

II. Overview of technical analysis

- Weekly analysis: EMA15 support has passed 66,000, and the price is expected to continue to rise. MACD turned red, and the fast and slow lines crossed, indicating that the weekly rebound is in progress. The target is 74,000 first, and it may reach 90,000-100,000 in the long run.

- Daily perspective: It peaked at 69,500 in the early trading, and the EMA trend rose, and the bulls were strong. MACD showed a top divergence, and pay attention to the risk of callback. The upper rail pressure of the Bollinger band is 70,500, and the KDJ converges, indicating that there may be a sharp drop in the slow rise, and investment needs to be cautious.

- 4-hour level: After breaking through 69,500, it callbacks to 69,000, and the EMA15 support of 68,400 is a short-term reference. MACD top divergence, DIF and DEA high contraction, short-term correction is possible. The upper track of the Bollinger Band 69150 was lost, but it is expected to return to the channel, and the middle track 68300 is an important support.

Special attention: DODO

DODO, a DEX favored by Binance and Coinbase, will celebrate its fourth anniversary and plans to launch the Pump platform and L2 chain. The current daily line is oscillating in the rising channel, with both volume and price rising. After breaking through multiple EMAs and the downward trend line, it is time to buy when stepping back on EMA30, 60, and 120. MACD golden cross is formed, the bottom is built, and the market enters the upward oscillation stage!

Buying range: 0.118 to 0.128

Target profit:

- Short-term: 0.158 to 0.168

- Mid-term: 0.3 to 0.39

Stop loss setting: 0.11

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