10.22 Evening BTC Market Share:

Yesterday, BTC experienced a strong one-sided upward trend, with an intraday increase surpassing 6000 points. The previous follow-up long position strategy has yielded substantial profits, and the short-term bullish momentum once showed extreme strength. However, the market did not form an effective stabilization at the high level, and the subsequent pullback was far greater than market expectations, quickly dropping from a high of 113940 to a low of 106360, with a pullback exceeding 7000 points, which is a typical "strong washout" trend — not only digesting short-term chasing positions but also forcing a large number of long positions to cut losses due to being unable to withstand the volatility, causing market sentiment to rapidly shift from "optimistic chasing" to "cautious watching."

From a technical perspective, the current market is still in the oscillation recovery phase after a pullback, with weak rebound strength and lack of sustainability. On the hourly chart, the price briefly touched the mid-line position of 109000 and was immediately suppressed and fell back, indicating that there is obvious short-term selling pressure at this point, and the bulls have not yet regained the ability to counterattack; combining the analysis of the four-hour chart, two key price levels need to be focused on: first, the mid-line resistance level of 109400 above, which is not only an extension of the hourly resistance level but also a "watershed" for the bullish and bearish momentum at the four-hour level. Only when the price stabilizes at this point and is accompanied by increased trading volume can it confirm the end of the short-term pullback and the bulls regaining initiative; second, the support level of 106000 below, which is close to the low point of this pullback. If it breaks down, it will likely open up further downward space, and it may even fill the previous upward gap, so the risk of breaking down must be monitored.

In terms of market sentiment, it is important to remind ourselves to avoid extreme mindsets such as "a pullback signifies the end of a bull market" and "a slight rebound indicates a trend reversal." The recent pullback at 7000 points has fully released short-term risks, but it does not mean a change in the long-term trend; similarly, the current slight rebound is merely a normal correction after a pullback and should not be taken as evidence of a "bull market restart"—if one blindly chases prices based on short-term fluctuations, it is no different from speculative behavior of "betting on direction," which can easily lead to losses due to emotionally driven actions.

In terms of operational strategy, it is recommended to focus on the "range consolidation" approach, conducting high-selling and low-buying around the key range of 106000-109400.
#广场创作者认证申请上线 #ETH反弹在即？ #巨鲸加仓2.5亿美元BTC