October 21 Bitcoin Ethereum market analysis and trading strategy

The daily chart is currently in a phase of repair and directional decision-making after breaking through. The rebound in the past three days has seen a significant decline in trading volume, indicating insufficient bullish momentum, and the trend reversal has not yet been confirmed. The first rebound high point after the sharp drop in October is around $116,000, and we are currently in the second wave of technical rebound, facing resistance in the $114,000-$116,000 range. Short to medium-term moving averages (MA7/14/30/90) are all declining or forming death crosses, with significant short-term pressure. The long-term lifeline MA365 (around $100,000) is the last support and defense line for the bulls. The trading volume shows a characteristic of "increased volume on declines, decreased volume on rebounds," indicating insufficient bullish liquidity and limited rebound height. A subsequent breakthrough above $116,000 with increased volume would be considered a signal of active capital entry.

Currently, from a technical perspective, the daily chart shows a long lower shadow, indicating strong support at the bottom, but overall it is between the middle and lower bands, with moving averages leaning bearish. In the short term, there is no need to worry too much about a deep decline; first, there will be a consolidation adjustment before assessing the strength of bulls and bears. On the four-hour level, there is an alternation of bullish and bearish candles, with prices approaching the lower Bollinger Band and moving averages in a bearish arrangement. The rebound strength is weak, overall showing weakness, and after a rebound in the afternoon, the bears may further test lower levels.

Bitcoin: Short near 108100-108500, target around 107500-107000

Ethereum: Short near 3900-3940, target around 3820-3780




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