10.7 BTC/ETH Market Outlook:
A huge bearish candle came crashing down, liquidating morning long positions worth $400 million. The drop wasn’t even that deep; it’s just that everyone was overleveraged. Nothing could be done—everyone wanted to go all in and make their money back quickly…
For BTC this week, I called for an initial long entry around 85,500, with an add-on at 83,500. The sell-off triggered that entry, so the average long entry is now 84,500, and it’s currently underwater. For ETH, I called for a long above 2,700, adding at 2,600; the average entry is now above 2,650, and it’s underwater. All of this is on record, so there’s no need to deny anything. Continue holding the long positions; no change!
If you don’t have a long position, you can still get in around 83,500–83,000 intraday. On a rebound, watch for resistance at 85,000–86,500–88,000. For the swing move, look toward 90,000–96,000.
For ETH, the 2,600–2,580 area below is still a good spot to look for longs. On a rebound, watch 2,680–2,780–2,900. For the swing move, look toward 3,000–3,300.
The upper Bollinger Band on BTC’s daily chart is opening downward, and the price is currently fluctuating around the middle band after the sell-off. The indicators have all turned downward. On the 4-hour chart, the price has fallen below the lower band and has yet to recover. On the hourly chart, the price has stopped falling for now and looks poised to rebound.
The ideal intraday scenario would be a morning sell-off that liquidates shorts, sideways trading during the day to lure in more short sellers, then a rally in the evening that liquidates them. Yesterday I was saying it might be hard to get another chance to buy BTC at a low like 83,500 this week. Then I woke up and it had crashed right down there. That’s the beauty of crypto: anything is possible. Whether you’re shorting or going long, always have your own view. Stay rational, manage your position size, and don’t get carried away! #币安推出BinanceIntelligence $BTC
A huge bearish candle came crashing down, liquidating morning long positions worth $400 million. The drop wasn’t even that deep; it’s just that everyone was overleveraged. Nothing could be done—everyone wanted to go all in and make their money back quickly…
For BTC this week, I called for an initial long entry around 85,500, with an add-on at 83,500. The sell-off triggered that entry, so the average long entry is now 84,500, and it’s currently underwater. For ETH, I called for a long above 2,700, adding at 2,600; the average entry is now above 2,650, and it’s underwater. All of this is on record, so there’s no need to deny anything. Continue holding the long positions; no change!
If you don’t have a long position, you can still get in around 83,500–83,000 intraday. On a rebound, watch for resistance at 85,000–86,500–88,000. For the swing move, look toward 90,000–96,000.
For ETH, the 2,600–2,580 area below is still a good spot to look for longs. On a rebound, watch 2,680–2,780–2,900. For the swing move, look toward 3,000–3,300.
The upper Bollinger Band on BTC’s daily chart is opening downward, and the price is currently fluctuating around the middle band after the sell-off. The indicators have all turned downward. On the 4-hour chart, the price has fallen below the lower band and has yet to recover. On the hourly chart, the price has stopped falling for now and looks poised to rebound.
The ideal intraday scenario would be a morning sell-off that liquidates shorts, sideways trading during the day to lure in more short sellers, then a rally in the evening that liquidates them. Yesterday I was saying it might be hard to get another chance to buy BTC at a low like 83,500 this week. Then I woke up and it had crashed right down there. That’s the beauty of crypto: anything is possible. Whether you’re shorting or going long, always have your own view. Stay rational, manage your position size, and don’t get carried away! #币安推出BinanceIntelligence $BTC