Mu Feng looks at the trend: Interpretation of the market trend in the early morning of 10/11 and operational ideas.

CN
4 hours ago

From a daily perspective, compared to Bitcoin/Ethereum during the day, the current main candlestick has an upper shadow (indicating weakened bullish momentum, with strong pressure from the MA5), and the opening range of the BOLL lower band is also greater than during the day, with the declines of the MA5 and MA10 daily moving averages intensifying.

Looking at the 12-hour chart, the overall downward pressure of the BOLL continues to strengthen, and the MACD has also entered a small bearish expansion phase. Meanwhile, the trading volume shows that at 8 PM, the candlestick was a large bearish candle, and there is still a significant gap in trading volume (meaning there is still a lot of room for decline). Additionally, the CPI data released in the evening was higher than market expectations (which is actually a bearish signal), so in the early morning, we will continue to look for a fluctuating decline. For specific trading points, you can refer to:

BTC: Short at 61000-61500, target 59000

ETH: Short in batches at 2400-2430, target 2320

The above is my personal analysis of the market in the early morning, first published on "Public Account: Mu Feng Looks at Trends." Welcome to exchange and learn together!

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