Chain Analyzer: 10.8 Bitcoin Ethereum quickly fell after sideways movement, support is effective, there is still room for recovery.

Bitcoin Ethereum rose rapidly to a new high yesterday, after which it sharply fell during the night; currently, the market continues to enter a narrow range of fluctuations. However, this significant increase followed by a decline and sideways market is itself a manifestation of the strengthening trend. After Bit broke the 120,000 mark, the trend became obviously stronger, so further attention should also be paid to support at this level. The U.S. government is delaying the publication of data, causing external risk capital to shift into gold and cryptocurrency, with gold already repeatedly hitting new highs, while in the cryptocurrency market, after the correction, a continuation of the strong trend is also observed.
On the K-line chart, the daily level shows that yesterday a long upper shadow appeared, indicating strong selling pressure at high levels, and then the price dropped to the previous low level, forming support. At the 4-hour level, the last K-lines fluctuated with a tendency towards weakness, constantly closing small black candles and stars, reflecting a cautious market sentiment. Regarding technical indicators, at the 4-hour level, the MACD histogram consistently remains below the zero axis, and the DIF and DEA, after turning into a dead cross, gradually expand downward; however, some stabilization and rebound are already being observed. If the lower support is not broken, they will continue to accumulate strength for an increase.

Evening recommendations: buy Bitcoin in the range of 121500 to 122000, target 124000; buy Ethereum in the range of 4430 to 4460, target 4560.
#BTC再创新高 #十月加密市场预测