After the weekend break, we’ve entered the final week of October. Bitcoin maintained its strong performance over the weekend, and the current price has rebounded to the 115.4K level again, setting a bullish tone for the new week’s market.
From the daily timeframe perspective, the market’s bullish momentum continues to unfold: the candlesticks show a steady upward trend with consecutive bullish candles, indicating strong continuity of the bullish trend. Since the rebound from the previous low, the price has risen in a stepped manner and has successfully broken through the resistance of the Bollinger Bands’ middle band in the short term, presenting a clear upward trend on the technical side.
Going forward, we need to focus on the breakout of the 120K key resistance zone. If this level is effectively held, the price is expected to refresh the recent high again based on the long-term trend analysis. As the upward trend remains intact, we can continue to adhere to the core strategy of "buying on dips" for our operations.
Considering the market rhythm on Monday morning, here’s a specific trading suggestion: for BTC, we can establish long positions within the range of 114K-113.5K, with the target looking at the 116K-118K level. After entering the position, we can set a stop-loss below the lower edge of the entry range to cope with short-term fluctuation risks.
From the daily timeframe perspective, the market’s bullish momentum continues to unfold: the candlesticks show a steady upward trend with consecutive bullish candles, indicating strong continuity of the bullish trend. Since the rebound from the previous low, the price has risen in a stepped manner and has successfully broken through the resistance of the Bollinger Bands’ middle band in the short term, presenting a clear upward trend on the technical side.
Going forward, we need to focus on the breakout of the 120K key resistance zone. If this level is effectively held, the price is expected to refresh the recent high again based on the long-term trend analysis. As the upward trend remains intact, we can continue to adhere to the core strategy of "buying on dips" for our operations.
Considering the market rhythm on Monday morning, here’s a specific trading suggestion: for BTC, we can establish long positions within the range of 114K-113.5K, with the target looking at the 116K-118K level. After entering the position, we can set a stop-loss below the lower edge of the entry range to cope with short-term fluctuation risks.
Dagangan ditutup: sasaran tercapai
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Join my telegram channel for free t.me/GoldBitcoinSharing To follow the link, click on the globe icon on the next line
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.