#BTC market analysis 10/2
Yesterday’s route basically followed the script.
BTC first broke above 84,200, then pulled back to the low of 84,076, which perfectly entered the long zone at 83,900–84,100; afterwards, the low at 83,137 did not trigger the 82,900 stop-loss, and in the early morning it surged to a high of 85,265. The first target at 85,200 has already been achieved.
For existing long positions, you can reduce by half; protect the remaining position by raising the stop to 84,000. Get the profits into your pocket first.
1）Current higher trend remains bullish
The daily chart has regained EMA7. The 4-hour EMA7, EMA14, and EMA21 have formed a bullish alignment, and the 1-hour chart has also broken above the EMA200 at 84,190. As long as price does not drop back below 83,900, pullbacks still prioritize finding long opportunities.
2）Today’s trading plan
At the current position around 84,800, price is close to the upper Bollinger band, so it’s not recommended to chase.
Wait for a pullback and stabilization around 84,000–84,300, then look for longs again. Stop-loss: 82,900. Targets first look at 85,600; if that breaks, then 86,500 and 87,300.
In the past 24 hours, price has risen and OI has increased by about 2.2%, indicating new capital is moving in. However, after the ETF ended its nine-day consecutive inflow, the single-day outflow was about $149 million. This upswing still has a clear push from derivatives/contract funding, and chasing higher can easily get you shaken out.
Tonight at 20:30 Beijing time, Non-Farm Payrolls (NFP) will be released. Before the data, stay light on positions to avoid whipsaws both up and down.
Simple summary: The trend has strengthened, but don’t chase at 84,800. On pullbacks to 84,000–84,300, keep looking for lower longs; remember to take profit on the longs that already hit the first target.
⚠️ Personal chart/market analysis only; not investment advice. Pay attention to position and risk management.
Yesterday’s route basically followed the script.
BTC first broke above 84,200, then pulled back to the low of 84,076, which perfectly entered the long zone at 83,900–84,100; afterwards, the low at 83,137 did not trigger the 82,900 stop-loss, and in the early morning it surged to a high of 85,265. The first target at 85,200 has already been achieved.
For existing long positions, you can reduce by half; protect the remaining position by raising the stop to 84,000. Get the profits into your pocket first.
1）Current higher trend remains bullish
The daily chart has regained EMA7. The 4-hour EMA7, EMA14, and EMA21 have formed a bullish alignment, and the 1-hour chart has also broken above the EMA200 at 84,190. As long as price does not drop back below 83,900, pullbacks still prioritize finding long opportunities.
2）Today’s trading plan
At the current position around 84,800, price is close to the upper Bollinger band, so it’s not recommended to chase.
Wait for a pullback and stabilization around 84,000–84,300, then look for longs again. Stop-loss: 82,900. Targets first look at 85,600; if that breaks, then 86,500 and 87,300.
In the past 24 hours, price has risen and OI has increased by about 2.2%, indicating new capital is moving in. However, after the ETF ended its nine-day consecutive inflow, the single-day outflow was about $149 million. This upswing still has a clear push from derivatives/contract funding, and chasing higher can easily get you shaken out.
Tonight at 20:30 Beijing time, Non-Farm Payrolls (NFP) will be released. Before the data, stay light on positions to avoid whipsaws both up and down.
Simple summary: The trend has strengthened, but don’t chase at 84,800. On pullbacks to 84,000–84,300, keep looking for lower longs; remember to take profit on the longs that already hit the first target.
⚠️ Personal chart/market analysis only; not investment advice. Pay attention to position and risk management.
