10/16 Intraday Market Analysis 📊
CPI was very bearish: first a slow decline, then a sharp drop, then a wick recovery, followed by consolidation...
The long opened at 80,300 hit take-profit directly.
⚠️ I personally re-entered long positions at 80,600 and 2,350. If prices drop further, I’ll trade around the position.
BTC could see an extreme wick down to 78,000–76,000.
ETH support is currently at 2,340–2,315, with an extreme wick near 2,225. Use these levels as a reference.
The bearish CPI and PPI data, along with Waller’s remarks, are now out of the way. Give the market time to digest them...
BTC hasn’t broken below 80,000, while ETH briefly pierced support at 2,360. As long as the 4-hour candle body closes back above that level, we can treat it as a wick. If the 4-hour candle body closes below 2,360, watch out for a wick down near 2,225.
Intraday outlook:
BTC
Resistance on a rebound: around 81,900–82,000
If it holds above that, then watch 83,000 and 84,000.
Until it breaks above 82,000, it will likely keep forming a base at these low levels.
Support zone: 80,500–80,200
Watch out for wicks down to 78,000 and 76,000.
ETH
Minor rebound resistance: 2,386
Second resistance zone: 2,427–2,452
Third resistance: 2,485
Support below: 2,340–2,315
Wick-risk level: 2,225
SOL
Support: 102–100; watch out for a wick down to 96.
Short-term rebound resistance: 105.4–108
XAU
I’ve said this a hundred times:
Don’t short near 4,100.
You can scale into longs and sit back for easy gains.
Rebound resistance: 4,168, then 4,205–4,223.
Only a sustained hold above 4,223 would signal a strong rally.
Until then, expect continued range-bound trading between 4,000 and 4,200. Just buy the dips!
CPI was very bearish: first a slow decline, then a sharp drop, then a wick recovery, followed by consolidation...
The long opened at 80,300 hit take-profit directly.
⚠️ I personally re-entered long positions at 80,600 and 2,350. If prices drop further, I’ll trade around the position.
BTC could see an extreme wick down to 78,000–76,000.
ETH support is currently at 2,340–2,315, with an extreme wick near 2,225. Use these levels as a reference.
The bearish CPI and PPI data, along with Waller’s remarks, are now out of the way. Give the market time to digest them...
BTC hasn’t broken below 80,000, while ETH briefly pierced support at 2,360. As long as the 4-hour candle body closes back above that level, we can treat it as a wick. If the 4-hour candle body closes below 2,360, watch out for a wick down near 2,225.
Intraday outlook:
BTC
Resistance on a rebound: around 81,900–82,000
If it holds above that, then watch 83,000 and 84,000.
Until it breaks above 82,000, it will likely keep forming a base at these low levels.
Support zone: 80,500–80,200
Watch out for wicks down to 78,000 and 76,000.
ETH
Minor rebound resistance: 2,386
Second resistance zone: 2,427–2,452
Third resistance: 2,485
Support below: 2,340–2,315
Wick-risk level: 2,225
SOL
Support: 102–100; watch out for a wick down to 96.
Short-term rebound resistance: 105.4–108
XAU
I’ve said this a hundred times:
Don’t short near 4,100.
You can scale into longs and sit back for easy gains.
Rebound resistance: 4,168, then 4,205–4,223.
Only a sustained hold above 4,223 would signal a strong rally.
Until then, expect continued range-bound trading between 4,000 and 4,200. Just buy the dips!