Trader Chen Shu: 10.2 midnight Bitcoin and Ethereum market strategy No. 2, perfect short orders won a great victory and there is still room for short orders to rebound
The article analysis at noon on October 1 gave a short-selling idea of 6.41/2650. The short order fell to around 6.18/2480 in the short term. The profit of the short order was 2200/150 points, the highest entry point. The public article on the whole network refused any hindsight. Congratulations to friends who followed the market strategy operation! The winning rate of October started well with 100% correct point. The current market fell and rebounded weakly. Please see the following analysis for how to operate.
From the daily chart of Bitcoin, as the analysis of the articles in the past two days is consistent, the market fell to the daily MA120-day moving average (6.2) as expected to stop falling. The short-term support depends on whether 6.2 can hold. If it can hold, it will rely on this line for short-term shock adjustment. Otherwise, it will continue this wave of decline and continue to test the price band support of MA256/30/60-day moving average, that is, the price band of 6-6.1. I prefer to continue to pull back and test 6.1 and poke around 60,000; in the 4-hour chart, the current price is about to fall below the MA120-day moving average (6.23). If it fails, continue to look at the 256-day moving average (6.05) and the 6-hour 256-day moving average (6.03). To end the short-term pullback trend, the market needs to continue to stand above 6.2 and break upward.
As mentioned in yesterday's analysis of the trend, Ethereum gave a high point of 2650 for short selling, and stopped falling after reaching the low of 2480. The short-term pressure depends on whether the 4-hour MA256 daily moving average (2510) can be held, and the 6-hour MA120 daily moving average (2460) can be supported. First, let's see whether the 2460 line can be held. If it fails, it will test the low of 2400.
Midnight operation ideas:
BTC: Rebounds to 6.25/6.3/6.33/6.35 can all be lightly shorted. The short position target is 6.2 first. If it breaks, reduce the position and hold it to look at the support levels of 6.13/6.06/60,000; long positions are not considered for the time being. (6.6 mid-term short position reduction holding to look down to around 6.05)
ETH: Rebound 2520/2550 can be lightly shorted, target 2460, break and reduce position to look at around 2400; (2700 mid-term short position reduction holding to look down to around 2400)
Note: The current short-term rebound is weak, and there is no trend of going long to see the rebound. In this case, you only need to continue to short at the pressure level after the rebound, and stop profit and reduce positions at the key support level. The overall trend is still volatile and bearish, so treat it as a rebound short first.
