Trader Chen Shu: 10.8 Bitcoin and Ethereum Market Strategy *1, after a rise and fall, may retest the 6.18 support level.

In the analysis from the article on October 7, a long position was suggested at 6.3/2460, which dipped to a low of 6.26/2440 before starting to rise, with profits exceeding 1000/50 points on the long position. Subsequently, a short position was suggested near 6.46/2520, which also successfully gained over 1500/90 points. Congratulations to those who followed the article's operations. The accuracy rate for October trading is 80%. Currently, the market is consistent with the afternoon analysis of rising and falling. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, yesterday formed a long upper shadow inverted hammer candlestick. After the rise and fall, it broke below the 6.3 support level. There is currently a possibility of retesting the daily MA256 moving average (6.18). The daily focus should be on the support and resistance of the MA120/256 price range, specifically the 6.16-19 interval. If this level is lost, the short-term will likely retest the 60,000 integer level. Conversely, if it holds, we will continue to see range-bound adjustments. For short-term support, pay attention to the 4-hour MA30 moving average and the 12-hour MA256 moving average at the 6.22 level.

Ethereum's daily chart showed a failed rise after hitting the MA60 moving average (2520), falling back to the 2400 level. Currently, the key short-term support is at the overlapping MA120/256 of the 5-day moving average at the 2400 level. If this level is lost, it may retest the 2180 level. For today, focus on the 2400 integer level for support and resistance, with the pressure level referenced at the 4-hour MA256 moving average (2460).

Afternoon Operational Thoughts:

BTC: Long with light positions at 6.2, add to long positions on a pullback to 6.16, targeting above 6.3. Above 6.3, consider light short positions. Currently near 6.18 (if there were long positions at 6.32-6.3 last midnight, it is recommended to exit on the rebound and switch to short or find a position to add to long).

ETH: Short at 2450-2470, targeting near 2400. Below 2400-2380, consider light long positions looking for 2450 (if there were long positions at 2440 last midnight, it is recommended to exit on the rebound and switch to short or find a position to add to long).

Note: Currently, the daily chart is looking for a pullback to the key price range of 6.18-16, expected to oscillate around 6.18. Pay attention to whether the support near 6.18 holds. If it can hold this level, it will likely show a pattern of falling first and then rising.

The daily analysis strategy has a 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; I will reply to each one!

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