Market analysis for the morning of Thursday, October 16 The price of the currency fell back to the 110200 position in the early morning, showing a rebound after hitting the bottom. This position has strong support, repeatedly fending off the bearish attack and preventing further price decline. The current market is steadily rising, and it is recommended to take a low long position. Bitcoin: Long position near 110200, target at 112000. Ethereum: Buy around 3940, target price looking towards 4050.

#加密市场暴跌事件 Reviewing the market trends over the years, the market always cycles through periods. Today, seeing Tom Lee's analyst's predictions for Ethereum reminded me of that big dump in 2018. At that time, many experts confidently predicted the bottom, but the market continued to dip. However, this time the situation may be different. From a technical perspective, ETH has indeed pulled back half of its recent rise, and around $4200 is indeed a key support level. But we cannot be blindly optimistic; we must remain cautious. After all, Mark Newton's prediction of a $4233 bottom was just proven wrong not long ago. As someone who has experienced multiple bull and bear cycles, I suggest everyone prepare for both scenarios: on one hand, you can buy low around $4200, and on the other hand, you should also reserve funds in case of further falls. In any case, maintaining rationality and patience is the key to success. Let's watch and see if history will repeat itself.

Ethereum Market Analysis: Pullback to Accumulate Strength for Downward Movement, Reject Blindly Entering a Position for Speculation Ethereum is currently trading around 3985, as of 8:00 AM Beijing time. Investors who missed the opportunity to short at 4250 entered the market at 4210 yesterday and have already locked in profits around the 3950 line as of this report; they should continue to hold. Given the current market trend, opportunities to enter short positions above 4200 this week are basically hopeless. Those who have not entered should adhere to the principle of 'if you can't enter, don't blindly open a position,' prioritizing safety, and look for suitable points to continue shorting after a pullback. From the daily candlestick perspective, before the press release, the market reached a high of 4216 and a low of 3926, not only breaking the key level of 236 but also breaking below the EMA90 trend line at 4030. It is currently impacting the major support level at 3866, with a continued bearish trend. In terms of operations, there is no need to completely liquidate short positions; it is recommended to retain some core positions. The MACD shows a reduction in volume while increasing positions, and the contraction of DIF and DEA has failed. The mid-track resistance of the Bollinger Bands at 4245 is effective (the main force has repeatedly impacted but fell back), and the lower track support at 3744 is worth paying close attention to. The four-hour K-line shows a pattern of lower highs, with resistance levels gradually moving down from 4240 to the current 4130. The K-line is testing the Fibonacci retracement support level of 0.618 at 3917. This week's market has basically formed a "bottom sideways" pattern, with fluctuations exceeding 200 points. The focus of operations remains on "entering a position southward after a pullback," and strict risk control and position management are required. Non-professional traders should cautiously attempt long positions (northward) to avoid counter-trend operations.