Analyst Liang Qiu: Bitcoin and Ethereum continue to profit on October 12, but watch for short-term volatility

Yesterday, Bitcoin and Ethereum once again adopted a strategy of shorting first and then buying, successfully capturing significant market share. While we expected the market to remain volatile after the rapid decline, we were surprised by the wide range of fluctuations. However, this range is expected to gradually narrow and even reverse. On the daily chart, after the previous sharp drop, a long upper shadow formed before the market rebounded. However, the highs and lows shifted downwards during this upward trend, indicating that the overall market is still in a period of volatile correction. The four-hour MACD histogram is shortening, with the fast and slow lines approaching the zero axis but not forming a golden cross, indicating a balance between bulls and bears. The daily MACD remains in negative territory, with bears not yet fully retreating. Trading recommendations: Short Bitcoin around 111,800-112,300, with a target around 109,500; short Ethereum around 3835-3860, with a target around 3730. The recent continuous profit-making positions are clearly visible to many followers. The current market is primarily characterized by range-bound fluctuations, and our posts are effective. For more detailed information, please follow our homepage for updates!