October 22, 2026 Evening Market Analysis: Honestly, Ethereum really scared me last night. Even after the 4-hour candle reset at midnight, it started off looking really strong, but it turned out to be another fakeout. Aren’t you guys pissed!
First, let’s be clear: from this morning until now, new positions have entered the market during this drop. Overall open interest has been rising, so there are active short positions in the market. The current daily bearish candle has almost completely engulfed yesterday’s bullish candle body, showing signs of a bearish engulfing pattern. However, the daily candle hasn’t closed yet, so we’ll have to wait and see. For now, the daily chart still supports a bearish outlook after the rebound runs into resistance. If it ultimately closes near 2400, then 2380 will naturally be the next key level. But until that support breaks, we can’t just skip over it and assume the price will definitely reach 2330.
If the 8 p.m. candle still closes below 2420, with its body near the low, bears will gain further confidence. Short setup: Between 10 a.m. and 1 p.m., price consolidated in a narrow range around 2340–2350. This could be considered a small-timeframe bearish continuation pattern. If price rebounds to around 2435–2450, fails to push higher, and the hourly chart also turns weak, you could consider shorting the rebound. The key downside levels to watch are 2380–2330. Personally, I don’t think there’s a high chance of a decisive break below 2350 this week. More likely, we’ll see a wide 4-hour range, so be careful not to overcommit to a position! #比特币跌破8.4万美元
First, let’s be clear: from this morning until now, new positions have entered the market during this drop. Overall open interest has been rising, so there are active short positions in the market. The current daily bearish candle has almost completely engulfed yesterday’s bullish candle body, showing signs of a bearish engulfing pattern. However, the daily candle hasn’t closed yet, so we’ll have to wait and see. For now, the daily chart still supports a bearish outlook after the rebound runs into resistance. If it ultimately closes near 2400, then 2380 will naturally be the next key level. But until that support breaks, we can’t just skip over it and assume the price will definitely reach 2330.
If the 8 p.m. candle still closes below 2420, with its body near the low, bears will gain further confidence. Short setup: Between 10 a.m. and 1 p.m., price consolidated in a narrow range around 2340–2350. This could be considered a small-timeframe bearish continuation pattern. If price rebounds to around 2435–2450, fails to push higher, and the hourly chart also turns weak, you could consider shorting the rebound. The key downside levels to watch are 2380–2330. Personally, I don’t think there’s a high chance of a decisive break below 2350 this week. More likely, we’ll see a wide 4-hour range, so be careful not to overcommit to a position! #比特币跌破8.4万美元
