Analysis of thoughts on the morning of October 20

Last night, Bitcoin continued its upward trend and reached a high near 109,400 around midnight, followed by a sustained oscillation within a high range. Although the upward momentum during the session has somewhat diminished, the overall upward structure remains solid, and the future operational direction remains unchanged.

From the four-hour chart, the market continues to maintain an upward trend after three consecutive bullish candles, with prices continuously testing the upper pressure of the Bollinger Bands. The opening of the Bollinger Bands is gradually expanding, and the middle and upper bands are showing an upward divergence pattern, indicating that the bullish momentum in the market is still strengthening. On the hourly level, the three bands of the Bollinger Bands remain parallel and ascending, and the bullish trend is still intact. The current short-term pullback is merely a technical correction, and it is advisable to wait for a retracement before positioning long trades.

It is recommended to buy back near 107350-106800, with a target looking at 108500-109500. If it breaks, continue to look higher, with a stop loss of 500 points!
#Gate9月透明报告出炉 #加密市场回调 #十月降息预测