Trader Chen Shu: 10.3 Bitcoin and Ethereum Market Strategy *No. 1, Weak Oscillation Focus on 60,000 Support Gains and Losses

On October 2nd, the analysis articles provided interval trading ideas for both the afternoon and evening, suggesting a trading range of 62,000 to 60,500. The predicted points were accurate, and those who followed the trading ideas from today's afternoon article made profits of over 2,000 points. Congratulations to everyone who followed the article's trading strategy for a 100% win rate at the start of October. Currently, the market is in a short-term weak oscillation. Please see the following analysis for trading guidance.

From the daily chart of Bitcoin, the overall market trend is consistent with yesterday's article analysis, basically maintaining an oscillation within the range of 62,000 to 60,000. Yesterday's daily candlestick formed a long upper shadow doji, indicating that selling pressure in the market remains severe. For today, first pay attention to the MA60 daily moving average (60,000) for gains and losses. If it breaks below, it will test the 59,000 support again. Conversely, if it holds the 60,000 support, we will see if it can break and stabilize above the MA256/120 daily moving averages at 61,500/62,000 resistance. The need to wait for a 2-5 day oscillation period to choose a direction, as mentioned in yesterday's article, is still valid. We should wait for the three daily moving averages to converge before judging the market's direction to determine the trend.

Ethereum's basic trend is consistent with the analysis from last night's article, with a small rebound that did not exceed the 4-hour MA5 daily moving average. The market sentiment is strongly bearish with significant selling pressure. In terms of trading, we are no longer considering going long. If participating in a long position, it would only be for a small range rebound. Currently, the overall trend is weak, focusing on resistance levels of 2,430/2,460 and support levels of 2,480.

Afternoon Trading Ideas:

BTC: Current price 61,300, take a light long position, add to the long position on a pullback below 61,000, target 62,000-62,500; for a rebound to 62,000-62,500, take a light short position, with the short target first looking at 61,000. If it breaks, reduce the position and hold, looking down towards 60,000.

ETH: For a rebound at 2,420/2,460, take a light short position, target 2,380. If it breaks, reduce the position and hold, looking towards 2,350.

Note: Currently, the short-term oscillation range is between 62,000 and 60,000. As time progresses, the oscillation range will gradually narrow. Pay attention to the directional choice within this range. Until a direction is chosen, treat the short-term as an oscillation within the range.

The daily analysis strategy has a very high win rate! Analysis is not easy, so 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!

For real-time market strategy exchanges and inquiries about market issues, you can follow my personal account homepage, the original (Coin World) ranked first personal KOL main influencer, providing free guidance and answering trading questions. Everyone is welcome to communicate and exchange ideas!

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