Trader Chen Shu: Midnight Bitcoin and Ethereum Market Strategy on October 9th - How to Operate in a Weak Intraday Fluctuation?

In the analysis article from the afternoon of October 8th, a long position was suggested at 6.2/2400, which perfectly hit the entry point and successfully reached the target, yielding over 1000 points. Ethereum's pullback did not touch the entry point, and then a short position was suggested at 6.3/2450, which also perfectly hit the entry point and reached the target of 6.18, with profits exceeding 2000 points. Congratulations to those who followed the article's operations. The accuracy rate for October's trading is 80%. Currently, the market is in a weak fluctuation. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, the last two days have seen two candlesticks with upper shadows. Yesterday, the price touched the key support level emphasized in recent articles, the MA256 daily moving average (6.2). It has currently stopped falling and slightly rebounded near 6.2. Today, we need to pay attention to the gains and losses at the key position of 6.2. It is expected to rebound from 6.2 to test the resistance level of 6.3. The short-term resistance levels to watch are near the MA256 daily moving average (6.27) on the 1-hour chart and the MA30 daily moving average (6.31) on the 12-hour chart. Overall, we should first focus on the direction of the breakout in the range of 6.2-6.3.

For Ethereum, the daily chart shows another rebound testing the MA30 daily moving average (2470) without success. The overall resistance level for the rebound is focused on the price range of 2480-2500. Before breaking above this line, we should treat it as a weak fluctuation. The key resistance level on the 4-hour chart is the MA60/256 daily moving average (2470), while the short-term support level is the MA120 daily moving average (2430) on the 1-hour chart.

Afternoon Operational Ideas:

BTC: Light long position near 6.21, stop loss at 500 points, target above 6.3; short position at 6.3-6.33, target near 6.2.

ETH: Short position at 2500-2480, target near 2450; light long position near 2430-2450, targeting around 2500.

Note: Continue to pay attention to the support and loss at 6.2 during the day. Treat it as a range between 6.3-6.2. If it stabilizes above 6.2, we can look for a breakout at 6.3. If it truly breaks below 6.2, then a short position can be considered targeting around 60,000.

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!

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

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