Trader Chen Shu: 10.29 Midnight Bitcoin and Ethereum Market Strategy *No. 3, Long Position Strategy Correct, Bulls Steadily Moving Up, Soon to Test the 70,000 Mark

On October 28, the strategy provided two long positions at the current price of 6.78, with the market price rising to a high of 6.93, resulting in profits exceeding 1000 points. In the evening analysis, a long strategy was again suggested, with the market reaching a high of 6.93. Additionally, it was reminded that after the opening of the U.S. stock market, there would be a surge followed by a pullback. The market trend prediction was correct; congratulations to those who followed the operation. The current price is maintaining a consolidation around 6.85. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, there have been three consecutive daily gains. Today's rise in the European and American markets has pushed the price above 6.9. The current daily resistance level is at the previous high of 6.95. If it can maintain above 6.85, then a breakthrough of 6.95 and a test of 70,000 will come soon. In the short term, focus on whether it can directly break through the price range of 6.95-70,000. If it can break through directly, it will rise to around 7.2; the 4-hour chart is currently moving upwards along the 5-day moving average and is about to test the 6.95 high point. The support level to watch is whether it will lose the 4-hour MA5.

From the daily chart of Ethereum, the price has not yet tested the daily MA10 moving average (2570) before experiencing a pullback. The current daily resistance levels are at MA30/10, which are 2520/2570. If Bitcoin experiences stagnation, pay attention to whether it can catch up and test the 2570 high point resistance; the 4-hour chart is also currently under pressure from MA256/120.

Midnight Operational Thoughts:

BTC: Light long positions near 6.87, add to long positions on a pullback to 6.83, target above 6.95; consider starting light short positions above 70,000/72,000.

ETH: Light long positions near 2485, target at 2520/2570; light short positions near 2580, target around 50 points.

Note: The short-term trend is relatively strong, and it is expected to test the 70,000 mark within 1-2 trading days. Currently, all levels are primarily bullish, and it is recommended to focus on long positions. Be cautious of risks and reduce target points when shorting on the left side.

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 for discussion; I will reply one by one!

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