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Bitcoin and Ethereum Latest Market Trend Analysis: As of 10/20, the current market is in an upward trend, with the technical indicators showing strong bullish signals. The candlestick pattern has formed a significant bullish engulfing pattern, suggesting a potential market reversal and further upward movement. At the same time, the market is positioned above both the short-term and long-term moving averages, with the short-term moving average showing an upward slope and forming a golden cross, which further enhances the bullish momentum. Additionally, the market is located above the middle band of the Bollinger Bands, indicating normal market volatility and a relatively stable sentiment. However, the trading volume data has not fully confirmed the price-volume relationship, which may pose a certain risk to the reliability of the signals. Given that the current market is in an upward trend confirmed by the moving average system and the market is near the strong support area at 108000 USDT, the formation of a significant bullish engulfing pattern indicates a high possibility of an upward market reversal. Therefore, adopting a prudent strategy of buying on a pullback to support is a high-probability choice that aligns with the trend. Thus, the afternoon operation suggestion is to wait for a pullback to enter long positions.
Go long near 109500-110000 for Bitcoin, watch around 112000.
Go long near 3980-4030 for Ethereum, watch around 4130.
$BTC $ETH #巨鲸加仓2.5亿美元BTC #美联储将召开支付创新大会