Market analysis on October 16, 2024
Daily chart of Bitcoin
Pressure level around 69,000
Support level around 65,500
Yesterday, Bitcoin rebounded to around 68,000, and then quickly fell to around 64,700, with both long and short positions bursting out. Yesterday, the support level was around 64,500. If you are more aggressive, you can go long at 65,000. I also reminded everyone in the live broadcast room that you should not chase high prices under any circumstances. Risks come from rising prices, and opportunities come from falling prices. Now the US election is less than a month away, and there is a high probability that a golden cross will form at the weekly level. Now every callback is an opportunity to go long. The idea of doing orders is still to go long at a low price, with long orders as the main focus. Brothers with short orders Brothers, remember to enter and exit quickly, and follow the trend when placing orders. I wish you all a happy Wednesday [fist][fist][fist]
Ether daily line
Pressure level is around 2720
Support level is around 2560
Ether rebounded to 2688 yesterday, and it was also with the ups and downs of the big cake. The support level we gave yesterday was around 2550. Yesterday, it fell to 2537. According to the idea, long orders can be received, and there will be profits. Today, the market may continue to fluctuate up and down, and wash back and forth to prepare for the rise. Everyone should be prepared to welcome the big market. I wish you all a happy Wednesday [fist][fist][fist]
The above information is for reference only and is not an investment advice.
