Evening Thoughts on October 27

Bitcoin's intraday rebound is not significant, with the Bollinger Bands opening on the 1-hour chart. The price is challenging the upper MA80 position, and a low-level golden cross has formed, making a quick dip followed by a long position relatively safe. Currently, the market shows an upper shadow; the price may pull back temporarily. Key support levels to watch are MA15, MA30, and the middle band. If the market rebounds a second time, it may break above the MA120 position. On the 4-hour chart, the Bollinger Bands show a trend towards ending the downward channel, with the lower band flattening and the upper and middle bands starting to rise. The support during the pullback is seen at the middle band and the MA7 range. Key resistance above to consider is where the MA120 and MA30 coincide with the upper band, aligning with the 1-hour MA120. The MACD shows an increase above the 0 axis, with a low-level golden cross formed, indicating the possibility of continued rebound and breakout. It is important to note that the cryptocurrency market carries a high degree of uncertainty and risk; the above analysis is for reference only. Caution should be exercised in assessing risks and making trading decisions based on multiple factors.

Bitcoin: 66400-66900 long. Target 67500-68000

Ethereum: 2400-2440 long. Target 2500-2540

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