Zhou Yanling: 10.21 Cryptocurrency Prices Continue to Rise, Irreversible Risk Factors, Ethereum Awaits the 3000 Mark
Last week, Bitcoin continued its upward trend. Although the daily increase wasn't significant, each small rise set a new high, which tests one's mindset and may lead many to hesitate in chasing higher prices. This is normal; after all, caution is necessary at certain times. Recently, the market has been somewhat driven by risk-averse sentiment and concerns about global market instability. The intensifying geopolitical tensions have prompted investors to seek safe-haven assets like Bitcoin, which is one of the key factors for the recent surge in the crypto market. Today, being Monday, there are relatively few economic data releases, so crypto enthusiasts should pay close attention to speeches from Federal Reserve officials and news related to geopolitical situations.
Previously, Yanling mentioned that many people didn't believe Bitcoin would reach the 70000 mark, thinking it was too high to chase further. However, this morning, the price has already risen to around 69600. So, is 70000 really that far off? There's not much difference now that it's close. Currently, technical indicators show that on October 18 and yesterday, there were long bullish candles that broke through previous highs, indicating strong upward momentum. The current MACD histogram is negative but gradually shortening, suggesting that the downward momentum is weakening, and the short-term trend remains bullish. The RSI is close to 70, on the edge of overbought territory, so caution is needed for potential pullback risks. However, if it maintains high levels, it will continue to rise. The current price is above the EMA7, and the arrangement is bullish with EMA7 > EMA30 > EMA120, indicating that the short-term trend remains bullish despite potential pullbacks.
10.21 Bitcoin Trading Strategy:
Buy at 68400-68900, stop loss below 68000, target 69500-70000, continue to look for upward movement towards 71000-71500.
Sell at 71400-69900, stop loss above 71800, target 69300-68900.
10.21 Ethereum Trading Strategy:
Buy at 2690-2725, stop loss below 2660, target 2780-2820, continue to look for a breakout towards around 2940.
Sell at 2820-2790, stop loss above 2850, target 2740-2700.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article's 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 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 focusing on 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 recovery, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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