October 28 Bitcoin and Ethereum Analysis

The price of Bitcoin has experienced back-and-forth fluctuations last week, with the weekly candlestick forming a hammer. The MA moving average system shows a bullish arrangement. The MACD indicator has formed a golden cross. Overall, from the perspective of the weekly candlestick, it still shows a bullish trend. I personally believe that the main trend in the future will still be upward. Currently, the price has reached this height, and it is certain that there will be a push to new highs, which will increase market enthusiasm and also bring in some fresh capital. Even if we don’t see a new high, the price is unlikely to experience significant pullbacks in the short term. Only by breaking out to new highs or consolidating at high levels can the market makers better harvest profits. For short-term intraday operations, I personally suggest focusing on buying on dips. The 4-hour level candlestick began to rise after a second spike on the morning of the 26th, showing a W-shaped overall trend, which has now driven the moving average system to form a water lily pattern. The secondary indicators show a state of tug-of-war between bulls and bears. In summary, there is still a small amount of pullback space in the short term today, and we can attempt to go long relying on the support around 67500.

Strategy:

BTC: Buy near 67500-67200, with the first target at 68700 and the second target at 69400.

ETH: Although Ethereum has shown a slow rise and rapid fall recently, from the daily chart, the overall trend has been relatively steady since September 6, with the bottom continuously rising and new highs being established. The intraday operations should also focus on buying. Buy near 2480-2460, with the target around 2550. #加密货币市场持续震荡 #美国大选前行情观察 $BTC $ETH