October 19 evening Bitcoin Ethereum market analysis and trading strategy

The daily chart of Bitcoin has formed a complete wave-shaped retracement structure. After the 5-day moving average and the 10-day moving average formed a death cross, they continued to diverge downwards. The MACD indicator's green bars are continuously amplifying, and the bearish momentum is still being released, with no signs of a trend reversal yet. Based on the wave structure analysis, the target range for this retracement points to around 105000, which not only serves as the lower support of the previous oscillation but also coincides with the position of the 60-day moving average, providing strong technical support.

The price of the coin at the four-hour level has encountered resistance after a rebound, with the strength of the rebound being limited. The trend shows characteristics of pressure after a breakout; although the price has broken through the middle band of the Bollinger Bands, it has failed to sustain upward momentum and instead shows clear signs of pressure as it approaches previous resistance levels. From the candlestick patterns, there have been multiple occurrences of long upper shadow candlesticks recently, indicating heavy selling pressure above, and the strength of the rebound is expected to be limited in the short term. Bullish momentum is insufficient, and a continuation of the retracement trend is highly likely.

Bitcoin: Sell at 108000-108500, target 107000-106000
Ethereum: 3965-3980; target 3900-3800#加密市场回调 #Ripple拟建10亿美元XRP储备 $BTC $ETH