10.23 Morning Bitcoin Ethereum Trend Analysis

During the midnight period yesterday, the Bitcoin market showed a fluctuating downward trend, with the price continuously retreating from the critical high point of 108769, stabilizing after reaching a low of 106666 in the early hours of the next day. At the same time, the Ethereum market was in sync with Bitcoin, starting its fluctuating downward trend from a midnight high of 3859, and probing down to a low of 3706 in the early hours of the next day, adjusting overall in line with the rhythm of mainstream cryptocurrencies.

From the current technical analysis of the market, the four-hour level shows a consecutive two bearish candlesticks trend, with the price retreating below the middle band of the Bollinger Bands. The previous gains have mostly been retraced, but the middle band of the Bollinger Bands maintains an upward movement. Currently, the bearish candlestick's body is accompanied by a long lower shadow, indicating effective support below. The signals for stopping the decline are significant, and the overall technical structure remains bullish. At the one-hour level, although the market shows a pattern of consecutive bearish dips, the price has not broken below the rising point from yesterday, and the continuous decline has led to the exhaustion of bearish momentum, with signs of stabilization gradually emerging. Based on the above analysis, the morning trading suggestion is to focus on a low-buy strategy, relying on the support below to position long positions. #美联储将召开支付创新大会

Bitcoin is looking to establish long positions around the 106800-107300 range in the morning, with a target focus on 109500.