10.23 Bitcoin BTC Market Trend Analysis, 4H Consolidation Adjustments Clean and Harmonious, No Drop in Consolidation Will Continue to Surge #比特币突破7万美元

Morning Review: Bitcoin has been continuously consolidating with up and down spikes in the 4H small cycle level, and in the last 2 days, it has cleared a lot of harmonious leverage, and as long as it has not effectively broken the support, it is highly likely to accumulate strength and continue to rally! In previous articles, I pointed out that a very key position for Bitcoin is at the 67100 line, which is both a key resistance and support level; as long as this position is not effectively broken, we can consider that the market has not changed to a short-term bearish trend. In the last 3 days, Bitcoin has repeatedly tested downward spikes, which is a very good opportunity for us to enter at low positions. The continuous long upper and lower shadows in the 4H level indicate that the strength of the bulls at this position is very strong and fierce. The 67100 line happens to be at a key Fibonacci retracement level. As long as it is not effectively broken, the right shoulder of the bat pattern we discussed earlier still has space!

In the long term, Bitcoin has strongly broken through the upper track of the channel and is still performing strongly. If the weekly close is above, Bitcoin will continue to perform strongly. Currently, the main issue is still the lack of volume; any chart indicators are lagging. From the data, the volume has not increased, and there is no significant accumulation of Bitcoin on-chain. Currently, the data for Bitcoin long and short positions is slightly stronger, but the strength of liquidation is about the same. There are a large number of long positions around 64000 that will be liquidated, and around 70000 there will be a large number of shorts liquidated, so we are currently in a very large long-short game interval!

The Bitcoin inventory in CEX has flowed out about 40,000 coins in the last two weeks. You can understand this as many individuals or institutions purchasing BTC from CEX and then transferring it to their own cold wallets!

Today's Bitcoin: 64600-67000 line to enter

ETH: 2592 first support, in yesterday's article I provided the point of 2614 which was reached, not sure if you received it.