Trader Chen Shu: 10.1 Afternoon Bitcoin and Ethereum Market Strategy *1: Continue to short on short-term pullbacks

In the analysis from the afternoon article on 9.30, a short position was suggested around 6.45/2650, with the short position dropping to around 6.3/2580, yielding a profit of 1500/70 points. Congratulations to those who followed the market strategy! The win rate of daily articles in September exceeded 80%, with accurate price points. Currently, the market is showing weakness in the pullback. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, the price has fallen below the MA10 daily moving average and has rebounded after touching the MA60 of the 6-hour chart. Currently, the short-term rebound strength appears stronger compared to yesterday. The short-term pressure should first focus on the 1-hour MA256 daily moving average (6.43), which is also the pressure level of the 4-hour MA10/60 daily moving averages. A short position can be considered upon the first touch of this line, with the next pressure level at 6.46. If the price breaks and stabilizes above the 6.46-43 range, it will be necessary to abandon the short position. This is a key point to note for shorting during the current rebound, with the downside target still looking at the 6.25-6.2 range.

As mentioned in yesterday's analysis of Ethereum, the market has rebounded after falling to the MA256 daily moving average on the 6-hour chart, failing to effectively break the 2590 level. The price is expected to oscillate in the 2650-2600 range, with the support level first looking at a break below 2890, and if broken, then at the 2540 level. The pressure level is simply at 2650.

Afternoon Operational Thoughts:

BTC: Short lightly at 6.41, add to the short at 6.46 on the rebound, target 6.25. If broken, reduce the position and hold to look below 6.2; long positions need to wait for the market to break and stabilize above the 6.43-46 range before considering. (Reduce the short position at 6.6 and hold to look near 6.2)

ETH: Short at 2650-70, target 2590. If broken, reduce the position and hold to look at 2540; long positions should follow Bitcoin synchronously (reduce the short position at 2700 and hold to look at 2540).

Note: Currently, the short-term rebound strength is considerable. Those who are cautious can wait for the market to test the 6.43-46 range before operating based on the situation. Overall, the trend still appears to be oscillating towards the downside, treating the rebound as an opportunity to short.

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply to each one!

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