Zhou Yanling: 10.23 Short-term Strategy to Follow the Trend and Go Short Today’s Latest Market Prediction Analysis and Trading Strategy
Yesterday, the coin price fluctuated back and forth within the range of 68000-66500. It seems that the sudden drop on Monday did not have strong continuation. However, from any intraday level, those secondary indicators are showing a downward turn. If this wave of decline can continue today, then the hourly level will also have some bearish guidance. This pullback will have a different interpretation, but regarding this drop, Yanling does not want to elaborate too much. I have seen some people say that this small bull market has reached its peak; there is really no need for that. Let’s not talk about whether the market will turn so quickly; according to the usual sequence, it is just a high-level consolidation, right?
Moreover, today is Wednesday. Did the nearly 3000-point drop on Monday cause the coin price to swing? This is the issue we need to consider now. If you ask me to explain using textbook annotations, these statements seem to have no issues. However, the continuous rise we faced before was not too related to the fundamentals and data; technical candlesticks cannot prove anything. If you say that the current candlestick is a reversal, you can look at the bearish candles that appeared during the rise. Did they change the market trend? It can only be said that it may be a temporary stop signal for the rise, but it is only temporary, or it could be a simple corrective action; we must not overinterpret it. In fact, from the perspective of short-term trading, the range fluctuations in the past two days provide good trading opportunities. You can make profits regardless of how you trade back and forth. Even if the entry point is not good, you won’t incur losses as long as you have patience to wait for the market to return, and then you will find that you have made profits again. Therefore, more patience is required; such market conditions test both human nature and skills the most.
10.23 Bitcoin Trading Strategy:
Short at 67500-67000, stop loss above 68000, target around 66200, continue to look for a breakdown towards around 65300.
Long at 65500-66000, stop loss below 65000, target 66600-67000.
10.23 Ethereum Trading Strategy:
Short at 2640-2610, stop loss above 2670, target 2570-2540-2510.
Long at 2530-2560, stop loss below 2500, target 2590-2620.
【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 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 and currently mainly analyzes and guides 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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