Crypto world Hongjie 10.10: BTC 4H death cross divergence short positions continue? Short-term daily chart convergence becomes the key! Today's Bitcoin (BTC) latest market analysis and trading suggestions!

The current price of Bitcoin is around 121700. Early this morning, after breaking down the 120000 level, it formed again above the current 1H middle track position. The 1H channel remains parallel. According to the MACD, the green bars are increasing in volume again, and both DIF and DEA have successfully converged to form a golden cross upward. KDJ and RSI continue to rise and approach the oversold zone, indicating that the short-term upside space is not yet exhausted. Attention should be paid to the resistance of the three EMA lines: EMA120, EMA80, and EMA60, with the top focusing on the upper track position.

In the 4H chart, the Bollinger Bands are narrowing downwards, and the candlestick is forming a support rebound in the range between EMA80 and the lower band. Currently, the candlestick is at the EMA7 position, facing downward resistance at EMA30 and the middle band. Yesterday, Hongjie mentioned the third failure to narrow down. The death cross between DIF and DEA is still in play. The red bars in MACD are slowing down in volume, and KDJ and RSI are in the neutral zone with weak upward momentum. If there is a strong short-term breakout above the middle band and yesterday's high, it may reach the upper band again. Hongjie suggests that if you are entering short positions, your defense should definitely be placed above the upper band. On the downside, we still look at the lower band and EMA80 for secondary support. If it cannot hold, it will drop to the EMA120 position (around 118300).

Selling point: ≥123000 light short, add above 124500, stop loss above 125100; take profit at 121600-120500-119700; if it breaks below 119600, you can continue to hold until around 118400!

Buy point: ≤119700 light long, stop loss below 118300; take profit at 120600-121500-122300; if it breaks above 122500, you can continue to hold!

There is a delay in article review push notifications, the above points are for reference only, please grasp the timing of buying and selling on your own, and be sure to take precautions when entering the market, do not operate with heavy positions! Thank you for reading! #十月加密市场预测 #BTC走势分析 #贝莱德连续七周增持BTC $BTC $ETH