Yueying: Bitcoin and Ethereum Market Analysis for October 3rd: Beware of Violent Market Washouts Behind Bitcoin's Strong Performance

Technical Analysis of Big Cake: The daily candlestick chart shows a strong bullish candlestick pattern, extending the gains above the neckline. The intraday market tested the upper band before entering a period of high volatility. The Bollinger Bands are slightly open, and the short-term moving average is turning upward. The MACD fast and slow lines are crossing above the 0-axis, with large volume bars. The KDJ indicator is extending upwards. Note the resistance near 100, while the VR indicator is consolidating around 130. In the four-hour chart, the market has risen strongly above the upper band, but is currently trading below. The Bollinger Bands are trending upward, and the short-term moving average is extending upward. The MACD fast and slow lines are continuing to trend upwards, with shrinking volume bars. The KDJ indicator is flattening after turning, and the VR indicator is consolidating around 400. The RSI is overbought. Overall, while the market continues to strengthen, this upward surge suggests short-selling, which is not a healthy trend. Therefore, we recommend avoiding chasing high prices in the short term. Focus on resistance around 120,000 above, and support around the neckline at 117,000 below. If this breaks, watch for 115,000. In addition, watch for short-term volatility with the release of non-farm payroll data tomorrow night. Bitcoin's short-term recommendation: short at 120,900, long at 117,000 (over 115,300). Yitai's rebound hasn't outperformed Bitcoin, and the technical outlook is also strong. The 4-hour K-line is slowly rising, and further upward momentum is expected. I won't elaborate on the overall indicators, but simply refer to Bitcoin. Above, focus on resistance around 4500, followed by 4600. Below, consider support above 4200. Updates to articles are irregular during the holidays and will resume after the holidays. See short-term recommendations. Yitai's short-term recommendation: short at 4480 (short at 4570), long at 4288 (for more currency analysis, click on the image to view the homepage profile). —I'm Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, please feel free to discuss and learn with me! Let's share and profit together!