Market panic causes coin prices to weaken, buy the dip with a good stop loss to control risks! 11.4 BTC ETH strategy

Three weeks after experiencing a historic liquidation storm, cryptocurrencies still failed to find their footing. Due to a hacking attack on token network protocols, there was another significant drop on Monday. In mid-October, Trump's "massive" tariff threats caused investors to flee from cryptocurrencies to safe-haven assets like gold. Last week, Federal Reserve Chairman Powell warned investors not to have overly optimistic expectations about future interest rate cuts, and this statement intensified bearish sentiment in the market! Yesterday, those who went short were caught off guard when the market plummeted, unexpectedly breaking below previous lows!

The three consecutive daily gains have been terminated, and this morning we saw a large bearish candle with a long lower wick. The Bollinger Bands are opening, and the coin price is struggling to rebound at the lower Bollinger Band. The KDJ indicator is showing a dead cross with further downward divergence, and the MACD lines have formed a dead cross again, with increasing volume. Overall, the trend is bearish, so for intraday operations, Conan recommends focusing on shorting during rebounds! The resistance levels to watch above are 107100, 108300, 109000, 110700, 111500, 112000, 113500, and 115000, while the support levels to pay attention to below are 105700, 105200, 103400, 101600, 100000, and 98000.

11.4 Short Position Strategy:

BTC 108200-108700 short one hand, for the conservative enter at 109200-109700, defend around 110500, target look at 107000-106500-106000 nearby, if broken look at 105700-105200 nearby, continue to break and move stop loss according to the situation!

Short one hand at 3680-3720 for ETH rebound, for conservative traders enter at 3740-3780, defend near 3820, target around 3600-3570-3550, if broken look at 3500-3450-3420-3400, continue to move stop loss based on the situation!

11.4 Long Position Strategy:

BTC retracement 105200-105700 continue to go long, for conservative traders enter at 104000-104500, defend around 103000, target look at around 106500-107100, if broken look at around 107500-108200-108700, continue to move stop loss according to the situation!

Enter long on ETH retracement at 3520-3550, for conservative traders enter at 3420-3450 - defend near 3400, target around 3600-3650, if broken look at 3700-3730-3720 range, continue to adjust stop loss according to the situation!

The support that has not been broken after a long decline was broken on Monday. It is still uncertain whether it will continue to decline or rebound, but technically, the levels of 105200/3550 have been tested multiple times without breaking, so a rebound is possible. Therefore, it's not overly pessimistic for now!