Trader Chen Shu: Bitcoin and Ethereum market strategy No. 1 for the afternoon of October 7, upward breakthrough restarts bulls to focus on the continuation of strength
The analysis in the article published at noon on October 6 gave ideas for range operations and emphasized the importance of the 6.17 support. This morning, it broke through to the 6.4 high point. The current market has risen and fallen. Please see the following analysis for how to operate.
Looking at the daily chart of Bitcoin, after closing with a real red K-line yesterday, it continued to rise today. The price temporarily failed to test the 6.4 line and fell back in the short term. Currently, after standing above the support of the MA120/256 daily moving average adhesion (6.17), the next pressure level is the weekly MA30 daily moving average (6.37). Pay attention to the breakthrough of this line during the day. For the callback support, pay attention to the 4-hour MA120 daily moving average (6.3). If the callback falls below the 6.3 support, it will continue to fluctuate downward.
The trend of Ethereum is basically consistent with what was said in last night’s article. After rebounding and breaking through the daily MA30 (2470), it tested the pressure level of the MA60 daily moving average (2520) today. It is currently in a short-term correction. Pay attention to the 1-hour MA256 daily moving average pressure (2530). The support level refers to the 4-hour MA2470).
Lunchtime operation ideas:
BTC: Long with a light position near 6.3, currently looking at around 6.4, try to short with a light position near 6.46, the target is around 6.3
ETH: short at 2510-40, target 2480-60, long at 2460 with a light position and aim above 2500
Note: At present, the short-term has stabilized above the key support level of 6.17 mentioned a few days ago. The short-term trend is bullish, but we need to pay attention to the previous box oscillation range of 6.25-6.45. It is expected that the market will also oscillate and adjust in this range in the future. Pay attention to the direction and strength of the adjustment.
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