BTC Technical Analysis 20241026 Saturday
Upper Resistance: 67200-67500
Lower Support: 65800-65500
After the previous low of 65260, a five-wave rebound has completed at the hourly level, with the rebound ending and entering a three-wave correction. Currently, it is in wave C, with wave C completing a minimum adjustment of a 1600-point drop, which could end at any time. A Pinbar pattern has formed on the hourly chart, and a bullish engulfing pattern has formed on the 30-minute chart, indicating a short-term stop-loss signal.
As it is the weekend, volatility is low, and there is a high probability of weak consolidation within the support and resistance range.
【Suggestion】Day trading is recommended; short positions can be opened at the resistance area during the rebound, and long positions can be taken at the support area during the pullback.
