Trader Chen Shu: Bitcoin and Ethereum market strategy No. 1 on October 17th, yesterday's short position was perfectly predicted, pay attention to the strength of short-term correction
The article analysis on October 16th at noon showed that the long position did not reach the entry point, and the 6.83-88 interval short-selling strategy was given, which perfectly reached the entry point, and the lowest correction was 6.7. The short position won 1,000 points of profit, and the point prediction was accurate. Congratulations to friends who followed the article's ideas. The current market is in a short-term correction. Please see the following analysis for how to operate.
From the daily chart, Bitcoin received another red K-line yesterday. The price rebounded to the highest level of the neckline pressure level of 6.85 emphasized yesterday, and then began to pull back. The daily level needs to continue to pay attention to the breakthrough and stabilization of 6.85. If it stabilizes this line, the short-term will continue to rise and test 70,000; in the 4-hour chart, the short-term has received 5 consecutive green K-lines with upper and lower shadows. The MA5/10 daily moving average is about to overlap and turn downward. In the short term, we will first look at the MA10 daily moving average's downward break. If the 4-hour MA10 is lost, the short-term correction market may start.
Ethereum closed a cross star yesterday, and the price remained above 2600 points and fluctuated and adjusted. At the same time, the price was suppressed by the weekly MA60 daily moving average (2660) and the neckline 2700. The pressure level can focus on this line; in the 4-hour chart, the current price is still above the MA5/10 daily moving average. Pay attention to whether the subsequent correction will fall below the 4-hour MA5/10 daily moving average.
Lunch operation ideas:
BTC: short first, long later - short at 6.74 rebound, look at around 6.63; long at 6.64-6.6 below, look at above 6.7
ETH: light long in 2600-2580 range, target 2630-2660; light short at 2660-2680 above, look at 60-100 points correction
Note: There are signs of correction in the short term at present, pay attention to the loss of the short-term support of 6.7-6.68. If it loses, the short-term may fall back to the middle track of the 4-hour Bollinger band, that is, 6.63, which is also near the MA5 daily line of the daily line. The US stock market will first look at the correction market when it opens.
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