Market analysis on October 12th, Bitcoin is in a rebound at the 4-hour level, patiently waiting for the structure to complete.

CN
2 days ago

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Since the rebound from 58946 yesterday, Bitcoin has been in a strong rebound, currently reaching a high of 63417. It can be confirmed that this is a 4-hour level rebound. Whether in terms of time or space, this 4-hour level rebound has just begun, and it is still far from ending. Therefore, in the short term, the operation should mainly focus on pullbacks, and shorting should be approached with caution.

Several readers expressed their views in the comment section yesterday, hoping that after this rebound, there would be a weekly pullback followed by another round of weekly level increases. Personally, I also hope for this, but we must remind everyone to be cautious. If the market breaks through 70,000 and directly goes for a weekly rebound, being overly bearish could lead to missing out. Therefore, for the two scenarios mentioned regarding the weekly level, we should be prepared for corresponding trading actions.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes, which should only serve as a reference.

1H:

At the 1-hour level, we are still in the first 1-hour level rebound. Yesterday, we expected this 1-hour level rebound to reach around 64500 or higher. It has not yet ended, so let's see if it can continue to rise. Once the first 1-hour level rebound is completed, there will be a second 1-hour level pullback and a third 1-hour level rebound. The overall 4-hour level rebound is still far from ending, so let's patiently wait for the structure to complete.

15M:

At the 15-minute level, the first 15-minute level rebound has been quite strong, moving directly from 58946 to 63417. Currently, it is running the third 15-minute level rebound, and we should see a fourth 15-minute level pullback tonight. We will observe if it can retrace to around 62000. It is expected that there is a high possibility of consolidating a 15-minute level center here before continuing to rise.

ETH

For Ethereum, the first 1-hour level rebound should normally push above 2500. Currently, it is running the third 15-minute level rebound. If this rebound cannot directly break through 2500, it is likely that there will be a short-term consolidation of a 15-minute level center before continuing to rise. For the overall 4-hour level rebound, I personally expect it to be in the range of 2830~2970. I hope Ethereum can perform a bit better soon.

Trend Direction

Weekly Level: Direction is downward, theoretically around 49000 is about right. Whether it has ended still needs observation, but the probability of starting a weekly rebound is increasing.

Daily Level: Direction is upward, and in the short term, we should continue to look at the range of 67000~70000.

4-Hour Level: Direction is upward, and it is expected to start a 4-hour level rebound, targeting the range of 66500~70000.

1-Hour Level: Direction is upward, currently in a 1-hour level rebound, focusing on 64500.

15-Minute Level: Direction is upward, and if it cannot directly go above 64000 in the short term, it may prioritize consolidating a center before moving up.

Feel free to follow my public account for discussions and exchanges:

The article is time-sensitive, please pay attention to risks. The views in the article are personal suggestions and for reference only!

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