Zhou Yanling: Bitcoin faces pressure at 63500 on 10.14, can short if it holds; Ethereum remains in narrow fluctuations focusing on short-term
Now the coin price has reached a critical decision point again. Last week's market overall followed a deep V pattern, where it fell and then rose back to where it dropped. Towards the end of last week, Bitcoin attempted to break above 63000 several times but was pressured back down by the resistance at 63500, which is quite evident. Today, on Monday, the coin price is still fluctuating under the strong pressure of 63500, and it is expected to be difficult to break above in the short term. Moreover, from a broader perspective, the daily moving averages show signs of a golden cross, with important support located at the middle track of the daily line, which is also where the moving averages intersect. If it breaks down here, the coin price is likely to continue to open up space for a drop and test the lower area around 59000 again. Therefore, in recent operations, Yanling is relatively optimistic about bearish layouts.
In fact, the rebound in the morning was a good opportunity to short. So when it’s time to act decisively, don’t hesitate. The recent market trend is that only a firm mindset can lead to a way out; don’t waver. The focus for today is to pay attention to the strength of the European market. If the European market is strong, there may be another long position before the US market; if the European market is weak, there may be a short position before the US market. Today, the judgment of the US market will be based on the strength of the European market, with operations mainly focusing on high shorts and low short-longs as a supplement.
10.14 Bitcoin Operation Strategy:
Short at 63300-62800, stop loss above 63800, target 62100-61600, continue to break down to look for around 60300.
Light long at 61600-62100, stop loss below 61100, target around 63100.
10.14 Ethereum Operation Strategy:
Short at 2490-2460, stop loss above 2520, target 2420-2390, continue to break down to look for around 2330.
Light long at 2390-2415, stop loss below 2360, target around 2450.
[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.]
The content of this article 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, currently mainly analyzing and guiding 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, learning market observation skills, etc., you can follow the teacher's public account: Zhou Yanling to find the teacher.
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