BTC evening thoughts on October 10

In the past couple of days over the weekend, BTC has been moving sideways while Ethereum has been soaring. On the daily chart, BTC has been stuck in the range of 116000—118500, grinding back and forth. On the 7th, it closed with a long lower shadow bullish candle, forcefully pulling back up from below. Now on the daily chart, a small bullish candle is gradually climbing upwards.

In the 4-hour chart, BTC has repeatedly tried to break the 118500 mark, but has been pushed back each time, indicating significant short-term pressure. The DIF and DEA lines are opening upwards, but the red momentum of the histogram is starting to shrink, suggesting that this wave of momentum is losing steam. On the daily chart, the DIF and DEA golden cross is still steadily moving forward, and the overall trend is still considered healthy.

In terms of trading volume, on the 7th, there was a huge volume on the daily chart, which then gradually decreased, and the market sentiment changed from "burning passion" to "quiet observation." At the 4-hour level, every time it peaked around 118,500, the volume did not keep up, and the strength to break through was obviously insufficient.

So, Xiao Zhuge's trading idea tonight is very simple - don't chase hard at high positions, leave some positions empty when the price rises, and we'll talk about it when it pulls back. Don't let the market treat you as a "bag holder" for a rebound. Xiao Zhuge's personal suggestion: Buy BTC in the range of 118500-118800, with a target down to 116500-115700, and if it breaks down, look at 113500.
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