Bitcoin and Ethereum Market Analysis on October 11: What to Watch for BTC and ETH Today
Market Review
BTC fell back sharply yesterday morning, with no obvious negative news. A black swan event suddenly occurred, causing the decline to be nonsensical. The 4-hour trend needs to be repaired, the daily level needs to be repaired, and the weekly trend is still healthy.
The second cake follows the BTC cake in a synchronous deep callback. The 4-hour trend breaks and needs to be sorted out and repaired. The daily level also breaks and needs to be repaired.
The altcoins followed the mainstream and experienced a deep correction. The altcoin index plummeted, and most currencies fell by more than 50%. The altcoins collapsed. Wait for the altcoins to stabilize before considering it. Recently, Binance has been active frequently, and Alpha points activities are constantly going on. You can brush up your points and get some free stuff.
Today's highlights:
BTC 1-hour and 4-hour levels have entered the oversold range, and the daily level is below the healthy range. It is expected to repair and consolidate during the day. The lower support is 109000-110000, and the upper resistance is 113000-114000.
ETH 1-hour and 4-hour levels have entered the oversold range, and the daily level is below the healthy range. It is expected to repair and consolidate during the day. The lower support is 3600-3700 and the upper resistance is 3900-4000.
