Trader Chen Shu: 10.31 Midnight Bitcoin and Ethereum Market Strategy *No. 3, Ethereum short position successfully profited, focus on 7.2 gains and losses at midnight.

On October 30th, I published an article providing a long position strategy, suggesting to go long at 7.16/2635. There was an entry opportunity for Bitcoin long positions. In the evening analysis, I suggested a short position for Ethereum at 2720, aiming for a 50-point profit, which was successfully predicted and profited 50 points. Congratulations to those who followed the operation. The current price is maintaining a fluctuation around the 7.2 level. Please see the following analysis for operational guidance.

Currently, Bitcoin's short-term focus is on the gains and losses around 7.2. It is expected that 7.2 will serve as support for the 4-hour MA5/10-day moving average. If it can hold this line after the US stock market closes, it will likely return to a one-sided upward trend. Conversely, if it loses this line, it may retrace to small supports at 7.15/7.05/70,000. The midnight market should focus on the gains and losses at 7.2. Overall, the market still leans bullish, although it is affected by the US stock market.

In both the afternoon and evening articles, I provided a short position strategy at 2720 for Ethereum. The strategy was perfectly timed for a short at 2720, with a minimum drop to around 2660, successfully capturing a 50-point profit. The current price has reached the daily MA120-day moving average resistance. It is worth watching whether it can hold above this after a retracement. If it does, Ethereum will enter the next phase of upward movement towards 3000. The 4-hour view shows that the short-term trend is still relatively strong, and the MA5/10-day moving averages have not been lost, so this small support should be monitored.

Midnight operational thoughts (writing time: 02:00):

BTC: Light long positions at 7.15-7.2; for a more conservative approach, wait for a pullback to the 7.1-7.03 range to go long, targeting above 7.25. Short positions can be considered in the 7.35-7.4 range with a small stop loss for short-term trades.

ETH: Go long in the 2660-30 range, targeting above 2700. The first round of short positions at 2720 has already been executed for profit, so I will temporarily observe without participating.

Note: Tonight's market during US trading hours is mainly influenced by a slight decline in the US stock market, leading to minor short-term divergences and a price pullback. However, as long as 7.2 is not completely lost, the short-term view remains bullish. The 7.2 level is not only the support for the 4-hour MA5/10-day moving averages but also the neckline conversion position mentioned in today's article.

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, bookmark, 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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