Zhou Yanling: 10.12 Bitcoin Awaits Turning Point, Ethereum 2470 Bull-Bear Watershed
Yesterday's market movement was quite strange, as if the coin price had received independent buying support, slowly rising in a chronic manner. This is why Yanling later lost on short positions and decided to follow the trend and go long. Waiting for a high point to short may not be as effective as adapting to the trend and capturing a rebound. After the rebound ends, one can still go short. However, regarding the follow-up market tracking, Yanling still believes there will be a washout situation, so we should take profits on long positions. Additionally, the market space at the end of the week is generally small, so it is not advisable to hold for too long.
From a technical perspective, we are currently looking for a turning point. In the face of this independent rise, you either have no opportunity for a decline at all, as it keeps pushing upwards, or a turning point occurs at some position within the adjustment area, leading to a rapid drop. Looking at the current situation, the bearish momentum bars on the daily chart have reduced, but the decrease is not particularly significant. The length of the bullish candlestick is also more substantial than the previous days' continuous bearish candlesticks. Therefore, from the candlestick perspective, the engulfing continuation of the bearish candlestick is a very intuitive performance. However, do not attempt to find trading signals solely from the daily MACD; the fast and slow lines are still in a dead cross, and the distance after the cross is quite large. How do you determine entry points and trading opportunities? It is definitely better to look at shorter cycles. What Yanling wants to express is that there is still a chance to drop further; it just requires some time for persistence and verification. Today, over the weekend, let’s see if there will be an opportunity to short, with upper pressure to watch around 64000.
10.12 Bitcoin Trading Strategy:
Long at 62300-62600, stop loss below 61900, target 63100-63500, continue to look for upward movement around 64000 and 64700.
Short at 64000-63500, stop loss above 64500, target around 63000-62600.
10.12 Ethereum Trading Strategy:
Long at 2420-2440, stop loss below 2390, target 2470-2490, continue to look for upward movement around 2520.
Short at 2500-2470, stop loss above 2530, target around 2430.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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