Zhou Yanling: October 13 Bitcoin and Ethereum Trend Analysis and Short-term Trading Strategy
When you see the current consolidated structure of the coin price, don't overthink it, as you will definitely have the urge to go long, for example, adhering to the bottom of the channel to go long, looking for a short-term surge. From a short-term trading perspective, there is indeed nothing wrong with this, and you will find it quite interesting these past two days. Holding onto 62500 points to go long seems to be futile, as the market has been hovering around 63000 for two consecutive days. Although there has been some rebound, the extent has not even reached 1500 points, and each time there is a rebound followed by a drop, it tends to pull back around 1000 points. Clearly, this market is still in a range-bound oscillation.
Many people may be addicted to the rebounds from going long and find it hard to extricate themselves, but Yanling does not want to operate this way next week. The coin price has reached a cyclical resistance level. From the current 4-hour chart, the rebound from around 59000 has allowed the bulls to regain the middle track. Although there may be a pullback for confirmation later, there is still support. As long as the middle track and the 10-period moving average are held, it will further rise to test the previous high. Conversely, if it closes with a bearish candle and falls below them, there may be repeated sweeping actions. Therefore, my recent long positions are mainly short to medium-term. If I happen to go long during an acceleration of the decline, the cost will be too heavy. The overall trend is about to turn bearish, so don’t get trapped by greed for a so-called rebound. Thus, the short-term resistance to watch today is 64000. Only if the hourly line breaks above it can we continue to follow the bullish trend. Pay attention to the gains and losses at this position; if it is pressured and cannot break above, then decisively go short.
October 13 Bitcoin Trading Strategy:
Short at 63900-63400, stop loss above 64400, target 62700-62300
Light long at 62400-62800, stop loss below 62000, target 63500-64000
October 13 Ethereum Trading Strategy:
Long at 2430-2450, stop loss below 2400, target 2490-2520
Short at 2510-2480, stop loss above 2540, target 2450-2420
【The above analysis and strategies are for reference only. Please bear the risk 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 content is exclusively 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 and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on unblocking positions, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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