Market analysis on October 22: Bitcoin is expected to see a short-term rebound at the 1-hour level; pay attention to the strength of the rebound.

CN
4 hours ago

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After Bitcoin broke below 68,000 last night, we confirmed a short-term 1-hour level pullback, which dipped to around 66,571. The pullback was slightly larger than expected, but it's manageable. The 1-hour level pullback structure should be nearly complete here, and we should look for a 1-hour level rebound. It's important to pay attention to the strength of this 1-hour level rebound; if it cannot break through 69,519, then we are likely to see a 4-hour level pullback. If it can break through, then it should continue to push towards 70,000 and extend the 4-hour level rebound.

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 and use this information as a reference only.

1H:

At the 1-hour level, Bitcoin has already completed a 1-hour level pullback since it started from 69,519 yesterday, pulling back to around 66,600. The pullback structure is now complete, and as long as it does not drop below 66,500, there is hope for a 1-hour level rebound.

The key is to observe the strength of the upcoming rebound. If it breaks through 68,800 with strong momentum, it is very likely to continue pushing upwards towards 70,000, extending the 4-hour level rebound that started from 58,946, as indicated by the white arrow in the image above.

If the upcoming 1-hour rebound fails to break through 68,800, then we will likely see another 1-hour level decline to the 65,000-66,000 range. At that time, we need to be cautious about the support at 65,000; if it breaks below that level, the situation will not be good. As shown by the blue arrow in the image above, this would then become a 4-hour level pullback.

The specific rebound situation can be observed tomorrow night to make further judgments based on the strength.

15M:

At the 15-minute level, the basic structure of the current 1-hour level pullback has already formed, and there is hope for a 1-hour level rebound here. Currently, this is the first 15-minute level rebound. If it can break through 68,000, then it can be confirmed as a 1-hour level rebound. However, if it does not rebound and directly drops below 66,000 tonight, then the 1-hour level rebound will not come out so quickly, which needs to be guarded against.

ETH

Ethereum is also expected to have a 1-hour level rebound. If it can break through 2,720 in the short term, there is a chance to continue breaking through 2,770. If it cannot go up, then there will be a 1-hour level pullback later. The short-term should stay above 2,600; a normal 1-hour level rebound can occur tomorrow, but if it drops below 2,600, then we need to pay attention to the 2,580 level below.

Trend Direction

Weekly Level: The direction is upward, and the probability of a new weekly rebound is gradually increasing. 70,000 remains a key observation point.

Daily Level: The direction is upward, and in the short term, we continue to look at the 67,000-70,000 range. If it breaks through 70,000, the next target will be around 80,000.

4-Hour Level: The direction is upward, and we should focus on the strength of the upcoming 1-hour rebound. If it continues to break through 69,500, then the 4-hour rebound will extend; if it sells off, we will look for a 4-hour pullback.

1-Hour Level: The direction is upward, and we are looking for a 1-hour level rebound, with the upper target temporarily set around 68,500.

15-Minute Level: The direction is upward; breaking through 68,000 will confirm the 1-hour level rebound.

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The article is time-sensitive; please be aware of the risks. The views expressed in the article are personal suggestions and for reference only!

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