Trader Chen Shu: Midnight Market Analysis on October 25, Afternoon Long Position Strategy Successfully Took Profit, Evening Focus on Support and Resistance at 6.73

Today at noon, I clearly provided two Bitcoin long position strategies, suggesting to go long at 6.77 and add to the position at 6.73, with an average long position price around 6.75. The long positions successfully reached the profit target above 6.85, yielding a profit of 1000 points. Congratulations to those who followed the strategy! Currently, the price has surged and then retreated. Please see the following analysis for further operations.

Regarding Bitcoin, the overall market situation is as analyzed in the afternoon article. The first touch of the price range 6.77-75 was a must to go long. After the market retraced to 6.73, a rebound began. The overall analysis in the afternoon was correct, and congratulations to those who followed the operations. Currently, we should first look at whether the price can break and hold above 6.9. Once it breaks and holds, it indicates that the 4-hour MA10/30/60 daily moving averages and the 1-hour MA60/256 daily moving averages are effective. This round of rebound is expected to continue testing the price range of 6.95-7,000. As the weekend approaches, it is anticipated that tonight's bullish market will be about over, and subsequent operations should be treated as range fluctuations.

As for Ethereum, the 4-hour candle closed with a large bullish line at 8 PM. The short position strategy mentioned in the afternoon article at 2530-60 currently shows a retracement from 2560 touching the 4-hour MA256 daily moving average (2520). Pay attention to the support and resistance at 2520. If it holds, it will maintain a fluctuation above 2500; otherwise, we will look for a continued retracement to the low of 2450.

Midnight Operation Thoughts:

BTC: The evening bullish market has nearly run its course. As Saturday approaches, we should view it within the range of 6.73-6.85.

ETH: High resistance at 2570/2610, low support at 2480/2500. Wait until Saturday to see the specific closing situation for operations.

Note: For short-term support, pay attention to whether 6.73 can hold. If it holds, there is still a chance for further upward movement; otherwise, it will fall into a weak fluctuation and consolidation. Additionally, pay attention to the strength of the retracement on Saturday. After today’s closing, I will provide a trend analysis tomorrow.

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