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10.9 Morning Market Analysis!!!
The BTC has rebounded upwards on the 4H level, but it is still in a topping divergence pattern. Whether it can form the third downward wave on the 4H level mainly depends on whether it breaks below the 122500 position today. If it breaks below here, it would allow for the third downward wave towards the 119500/120200 position. If there is a pullback today and it does not break below here, there is still a chance to surge towards the 124000/125000 range.
Last night, the short position was set at 123500 with a stop loss above last night's high. You can hold on for a bit longer and focus on the gains and losses around 122500.
Ethereum did not break through the expected resistance zone of the downward trend line at 4570 last night. The view on the daily chart regarding the pullback remains unchanged. Currently, Ethereum is in a consolidation trend within the range of 4430-4570. Last night, if there had been a high position short setup, it would have been advisable to take a small profit. For going long, consider the position near 4430, with a stop loss of 50 points.
Continue to hold the spot positions in hand, and those who need to increase their holdings should patiently wait for the right opportunity!