10.23 Afternoon Xiaoyue Market Analysis and Strategy

The daily chart shows a slight bullish close, with short-term sentiment slightly recovering, but overall it has not escaped the downward pressure. In the 4-hour cycle, although the MACD histogram is still in the negative zone, there is a clear sign of reduced volume, and the fast and slow lines are gradually approaching the zero axis, indicating that bearish momentum is slowing down. Currently, the price is constrained by the EMA30 moving average, and the EMA7 and EMA30 have formed a death cross structure, indicating that the market is still primarily in a sideways bearish trend in the short to medium term. The daily EMA120 is still far above the current price, and the overall bearish pattern in the larger cycle has not changed.
Bitcoin: Focus on the resistance zone of 110,400–111,000. If there are signs of stagnation, you can try a light short position, targeting around 108,000, with a stop-loss reference above 111,500.
Two futures: If it rebounds to the 3900–3950 area and faces resistance, consider entering short positions in batches, targeting around 3800, with a stop-loss set above 3980.