10.23 Bitcoin and Ethereum short positions continuously take profit, subsequent trend analysis and operational suggestions!

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5 days ago

Trading Philosophy: Look for trends in the long term, find entry points in the short term;

Technical Analysis: For Bitcoin, after a high pullback on the daily chart, it closed with a bearish candlestick and a continuation pattern. The Bollinger Bands continue to open upwards, the MACD moving averages have started to move downwards, bullish volume continues to shrink, and the KDJ line is moving downwards. On the 4-hour chart, the Bollinger Bands are opening downwards, the price has been at the lower band position, the MACD moving averages are moving downwards, bearish volume is increasing again, and the KDJ line is moving downwards;

For Ethereum, similarly on the daily chart, after a high, it closed with two consecutive bearish candlesticks. The Bollinger Bands continue to narrow upwards, the MACD moving averages have started to move downwards, bullish volume continues to shrink, and the KDJ line is moving downwards. On the 4-hour chart, the Bollinger Bands have started to open downwards, the price continues to drop to the lower band position, the MACD moving averages are moving downwards, bearish volume is increasing, and the KDJ line is moving downwards;

In summary, the market trend is currently in a high pullback situation. The previously established short positions have been accurately captured, with target levels mostly reached. It is still recommended to continue to set up short positions during rebounds, and for medium to long-term short positions, it is advisable to take some profits while holding the remainder for further declines!

Operation Suggestion: Continue to short at high levels!

Short Bitcoin in the 66800-67200 range, with a target of 66000-65500, and a stop loss at 67600;

Short Ethereum in the 2590-2620 range, with a target of 2530-2500, and a stop loss at 2650;

The strategy is time-sensitive, please refer to private real-time guidance for specifics!

Follow the WeChat public account Yunyan!

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