Market Analysis and Strategy of Xiaoyue on the Evening of October 21


On the 4-hour chart, Bitcoin is repeatedly contesting around the middle band of the Bollinger Bands near 108600. After the Bollinger Bands have contracted, they are starting to flatten out, indicating a temporary balance between bulls and bears, with the market brewing the next directional move. After a price retracement, it has reached a critical support area. If it can hold here, it is expected to attract bulls back into the market, driving a rebound. The plan for the evening is simple: look for low-risk opportunities based on this support area.
Bitcoin: Consider placing a single order in the range of 106800-107500, with an initial target of 110000, and if it breaks strongly above that, look towards 112000.
Secondary contract: Consider trading in the range of 3830-3860, target 3950. After a breakthrough, look at 4060 and 4150.
ETH-0.71%
BTC0.38%
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