Trader Chen Shu: 10.21 Bitcoin and Ethereum Market Strategy *1, How to Trade Perfectly Taking Profits in High-Level Consolidation?

In the article on October 19, the analysis suggested a long position at 6.8/2630. After entering the long position, it perfectly reached the profit target, with the market rebounding to a high of 6.95/2770, achieving a maximum profit of 1500/140 points. Congratulations to those who followed the article's strategy. The market is about to challenge the significant level of 70,000 USD. Please see the following analysis for guidance on how to operate.

From the daily chart of Bitcoin, after the price broke through the previously mentioned neckline resistance at 6.3, it slightly increased in volume this morning to test the high point of 6.95 before retreating. Currently, the price is about to fall and touch the daily MA5 line. Pay attention to whether it can hold above the daily MA5 (6.83), which is also the support of the previously broken neckline. If it can confirm the effectiveness of the support at 6.83, it will rebound again to test the 70,000 USD level. On the 4-hour chart, the price has retraced to the MA5/10 moving averages, with the next support level at MA30, which is around 6.8. Monitor whether this support level holds.

Ethereum had a large bullish candle yesterday, testing the daily MA120 moving average (2780) with significant volume. Currently, there is clear resistance at 2780, while the support levels to watch are the previously mentioned neckline support at 2700 and the weekly MA60 (2680). If it retraces to this level and holds, it may again test the resistance at the 2780 high.

Afternoon Trading Strategy:

BTC: Light long position near 6.84, add to long at 6.8, target around 6.95. Reduce positions upon breakthrough and hold. Short positions should wait for market changes to enter.

ETH: Light long position near 2700, add to long at 2680, target in the 2750-80 range.

Note: Although there may be short-term pullbacks, the primary outlook remains bullish. Before any significant signs of a correction appear, maintain a long position strategy on pullbacks. Short positions can consider entering near 70,000 for short-term trades. For short-term support, focus on whether the price range of 6.83-6.8 holds.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!

For real-time market strategy discussions and inquiries about market issues, you can follow my personal account homepage, the original (Coin World) ranked first personal KOL main influencer, providing free guidance and answers to trading questions. Welcome everyone to communicate and exchange ideas!

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。