Trader Chen Shu: Bitcoin and Ethereum Market Strategy for the Evening of October 28th *Strategy 2, How to Operate After Perfectly Profiting from the 6.78 Long Position During the Afternoon?
On October 28th, the strategy provided a long position at the current price of 6.78 twice during the afternoon, with the entry point being basically at the lowest level. The market price has risen to a high of 6.88, resulting in a profit of 1000 points on the long position. Congratulations to those who followed the correct market trend prediction. The current price continues to surge; please see the analysis below for how to operate.
From the daily chart of Bitcoin, today’s market retraced after touching the daily MA5/10 moving averages and then surged again to the high point of 6.88. In the short term, we should first pay attention to the breakthrough situation at the 6.88 resistance level. It is expected that in one or two trading days, the market price will test the 6.95 high again. Looking at the 4-hour chart, today’s market retraced after touching the MA60 moving average (6.77) and then initiated a 1000-point rebound, consistent with the analysis from the past two days. Once it stabilizes above 6.77 again, it will return to a bullish market. The resistance level to watch is the breakthrough situation at 6.88 and the previous high of 6.95.
From the daily chart of Ethereum, it is currently showing three consecutive bullish candles and has broken through the daily MA30 moving average (2515) today. The next key resistance level to watch is the daily MA10 moving average (2570). If it first touches above 2580, consider taking a short position. On the 4-hour chart, it is currently testing the MA256/120 moving average resistance in the 2520-50 range; pay attention to whether it can break through and stabilize.
Evening Operation Strategy:
BTC: Light long position near 6.85, add to the long position on a pullback to 6.81, target around 6.95; consider gradually light short positions starting above 6.95.
ETH: Light long position at 2520, add to the long position on a pullback to 2500, target at 2550/2570; light short position near 2580, target around 50 points.
Note: The short-term trend is quite strong, having already tested the 6.85 high. If it breaks and stabilizes above 6.85, it will test the previous high of 6.95/70,000 integer level tonight. Another point to note is that after the U.S. stock market opens, it is expected to surge and then wash down, so be cautious of the risks of chasing highs and cutting losses in the short term.
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 for discussion; I will reply to each one!
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