Zhou Yanling: Can Bitcoin Continue to Rise After a Week of Gains on 10.19? Latest Weekend Trend Analysis
The extreme rise in coin prices has been vividly displayed this week, with market sentiment showing no mercy, just continuous increases. The indicators are no longer effective; to be precise, they haven't been useful since this Monday. Divergence methods, double top structures, overbought corrections—none of these have been validated, which is why the bears are in despair. Oh, and there's also the data aspect. What did Yanling say before? Negative answers have never been a problem; the key is that it can't drop. No matter how many times it fluctuates, it will eventually rise, which has become a common occurrence.
Moreover, last night the Bitcoin bulls remained very strong. Even though the European session fell back to around 67,600 before the U.S. market opened, the U.S. market directly continued with a large bullish candle, pushing it up to 69,000. We're not saying to blindly go long or to short with our eyes closed; trading is flexible, not rigid. In the face of extreme market conditions, one must act quickly and decisively. Currently, Bitcoin's daily chart is almost entirely filled with large bullish candles, showing no signs of a pullback, directly strong to the top, with a continuous series of bullish candles heading north. Clearly, the bulls cannot be suppressed; the moving averages are directly boosting the rise, taking off from the ground. All bullish candles are above the moving averages, a typical bull market. The price has reached this point, and the next step to the 70,000 mark is basically without suspense. For short-term operations, continue to maintain a low long position.
10.19 Bitcoin Trading Strategy:
Long at 67,700-68,200, stop loss at 68,800-69,300, continue to look for upward movement near 70,000.
Short at 69,900-69,400, stop loss above 70,400, target around 68,700-68,300.
10.19 Ethereum Trading Strategy:
Long at 2,600-2,630, stop loss below 2,570, target 2,670-2,700-2,730.
Short at 2,710-2,680, stop loss above 2,740, target around 2,640.
[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 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 breaking even, learning trading skills, etc., you can follow the teacher's public account: Zhou Yanling to find the teacher.
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