Trader Chen Shu: 10.27 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, Yesterday's Strategy Effectively Weak on Short-term Focus on 6.77 Resistance

On October 26, the afternoon strategy suggested a short position at 6.73/2500, and recommended trading Bitcoin in the 6.73-6.65 range for high selling and low buying. The market prediction was basically accurate, with yesterday's market showing narrow fluctuations. The current price remains above 6.7. Please see the following analysis for operational guidance.

For Bitcoin, the daily line closed with a small bullish candle yesterday, but the price is still operating below the MA5/10-day moving averages. The key short-term resistance to watch is the MA10-day moving average (6.77). If it can regain this level, it will return to a bullish trend. This is also the pressure from the MA256-day moving average on the hourly chart. On the 4-hour chart, the price is mainly below the MA30-day moving average, with short-term resistance at the MA60-day moving average (6.77). Based on the current trend, it is recommended to maintain a bearish outlook until it stands above 6.77, after which a directional change can be considered.

For Ethereum, yesterday closed with a small bullish candle but failed to test the 2500 resistance level. The daily line is currently mainly pressured by the MA5/60 at around 2490 and the MA30-day moving average at around 2520. First, focus on these two levels and observe the breakthrough situation of the resistance levels. Additionally, the strong resistance levels on the 4-hour chart at the MA256/120-day moving averages need attention, specifically in the 2520-40 range.

Afternoon Operational Thoughts:

BTC: Light short near 6.76, add to short on a rebound to 6.8, target around 6.65 (there may be a short-term rebound demand, with the rebound high first looking at 6.8/2520)

ETH: Light short near 2500, add to short on a rebound to 2530, target around 2440

Note: The overall strength trend of the market can be viewed with 6.77 as the dividing line for bullish and bearish. When the daily line loses the MA5/10-day moving averages, it should be viewed as a weak pullback. Next, focus on the actual stability at 6.77.

The daily analysis strategy has a very high win rate! Analysis is not easy, and 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!

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