Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey. Good afternoon, everyone! I am the King of Coins from the Coin Victory Group. Thank you all for coming here to watch the King’s articles and videos. I also hope that the brothers who have been following the King will return and join the Coin Victory Group to seize the great era of the cryptocurrency world.

Click the link to watch the video: https://www.bilibili.com/video/BV1mdxQe2E7W/

First, I would like to congratulate the friends who followed the King’s Bitcoin and Ethereum current price strategy yesterday. While recording the video, the King directly provided the idea to short Bitcoin around 62400, and a short position for Ethereum at 2550. At the same time, our strategy group also synchronized the orders, notifying the Ethereum short position to enter when Bitcoin reached around 62400, and successfully achieved take profit in the evening. The King suggested a long strategy around 60000, and it was also successfully entered in the evening, with Bitcoin profits easily exceeding 5000 points and Ethereum over 200 points. I can only say that although the King has been away from the scene for a while, the sword is still sharp.

Regarding the reason for the recent market decline, the King briefly analyzed it in yesterday's article and video, concluding that there will be no reversal in the market in the short term. Friends interested in understanding can refer to past articles. From the current short-term perspective, every wave of market rebound is an escape for the manipulators. Although Bitcoin's market seems relatively strong, that is because Bitcoin is the leader in the cryptocurrency world. Regardless, there is still some protective force. However, this may not be the case for Ethereum and others. For the current market, what everyone needs to do is to be patient and wait for funds to flow into the cryptocurrency market.

Currently, the key news to pay attention to in the market is the non-farm payroll data to be released tomorrow night. If this non-farm data is below expectations, it will support the reason for the Federal Reserve to cut interest rates by 50 basis points due to concerns about the economy falling into recession. Subsequently, the Federal Reserve will inevitably adopt a more aggressive interest rate cut policy to stimulate the economy, and the scale of monetary easing will also be larger. A representative example is when Bitcoin fell to 48000 in July due to unexpectedly weak non-farm data. We can analyze tomorrow's data from several aspects. The first scenario is that the data meets expectations, which means that the Federal Reserve's interest rate cut has achieved the desired effect. Just as they said, last month's 50 basis point cut was a preemptive measure, not a policy taken because the economy was already in trouble. This would be bullish for the cryptocurrency market and could even trigger a small bull market. The second scenario is that the non-farm data significantly exceeds expectations. If this happens, the probability of the Federal Reserve cutting interest rates in the future will be greatly reduced, and the possibility of raising interest rates cannot be ruled out. If this occurs, Bitcoin may experience a sudden surge, but will subsequently fall into a prolonged slump. From the initial jobless claims data at the end of September, it was lower than the previous value and significantly below expectations. We know that initial jobless claims are essentially a small non-farm indicator. Based on the current situation, the employment data for October should be optimistic. Because this market changes quickly, I believe that more strategies should focus on timely notifications.

Now, let’s return to the Bitcoin market. From the daily chart, after three consecutive bearish candles, yesterday formed a doji with a long upper shadow, indicating that the market received support yesterday, meaning there was capital protecting the market. However, it ultimately closed as a small bearish candle, indicating that the selling pressure is still strong. The closing of today’s market will be crucial. If today closes bullish, it may indicate a phase of bottoming out, followed by a 2-3 day rebound. Conversely, if today closes bearish, there will inevitably be another significant decline. From today’s candlestick, neither the high nor low of yesterday has been broken, so we can use yesterday's high and low as normal buy and sell positions today. In terms of levels, it is clear that the upper level is around 62300-62400 for short positions, while the lower level at 60000 is for long positions, both with a small stop loss of around 300 points. Because regardless of the direction, once the stop loss is hit and a breakout occurs, it will definitely extend beyond 1500 points. Therefore, no matter which direction breaks, if you have a short position, you can choose to chase the order. This is my view on Bitcoin's market today. Additionally, the market has been quite volatile these past few days. If anyone needs to cut losses, feel free to reach out to the Coin Victory Group.

Now, let’s take a look at the Ethereum market. First, from the daily chart, Ethereum has now seen five consecutive bearish candles, and the overall trend is weak, with a larger decline than Bitcoin. Currently, the strong support level has shifted down to around 2260. From both the indicators and the naked candlestick chart, there are no clear reversal signals. Therefore, for Ethereum, we can only focus on short positions. In the short term, we can look for entry points. An entry for short positions can be made around 2420, while we can test a short-term long position at 2350 with a 10-point stop loss. Remember, the stop loss should only be 10 points. If this level is broken, we can choose to follow the trend and enter short positions, targeting directly at 2260, and then reverse to go long at 2260, aiming for around 2300. Some may feel that the range given for Ethereum is quite large, but honestly, in the face of such volatile markets, we should prioritize stability in our trades. Because the market not only follows technical indicators but is also influenced by sudden news and market sentiment, we will provide more timely insights in the strategy group. Those in need can also reach out to the Coin Victory Group.

This article is independently written by the Coin Victory Group. Friends in need of current price strategies and loss recovery can reach out to the Coin Victory Group. Recently, the market has been primarily fluctuating, accompanied by intermittent spikes. Therefore, when trading, please remember to control your take profit and stop loss. In the future, when facing major market data, the Coin Victory Group will also organize live broadcasts across the network. Those interested in watching can reach out to the Coin Victory Group and contact me for the link later.

Main

Focus on spot, contracts, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile locking strategies around high and low support and resistance for short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.

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