Trader Liang Qiu: Take profit on Bitcoin/Ethereum high short on October 31, raise and continue to enter short positions.

CN
4 hours ago

Follow for more, earn millions. Hello everyone, I am analyst Liang Qiu. Here I share my views, hoping that every friend who follows can achieve good returns!

First published on the public account, you can follow the public account Trader Liang Qiu, focusing on mainstream coin guidance and layout. Bitcoin/Ethereum's strategy yesterday afternoon was to set up long positions at 72700 and short positions around the 2680 to 2700 range. After entering the market, the price dropped to around 71450 and 2636 in the early morning, with the Bitcoin target just reached. Ethereum, due to a previous surge, has limited space. Currently, the market is in a sideways consolidation, especially for Bitcoin, where the overall trend is relatively strong. However, during multiple up and down spikes, the highs are continuously declining, and the market is likely to form a top structure. As long as it does not break the high of 73800, do not chase the highs, and try to enter short positions on any upward movements.

On the daily structure, Bitcoin/Ethereum has repeatedly formed long upper shadows, and on the four-hour level, it has started to consolidate at high levels. According to the MA daily moving average indicators, the 7-day and 10-day moving averages have converged and are rising at around 70000 and 2560. The moving averages are diverging, indicating that the market will undergo a process of repair and consolidation, which will be accompanied by a pullback space. Additionally, Ethereum's rebound last night confirmed the expectation of alternating rises in the market. Once the expectation is fulfilled, it is also likely to form a top structure. Moving forward, pay attention to Bitcoin's support and resistance at 73000 and 70000, and for Ethereum, focus on 2720 and 2560.

In terms of operations, continue to enter short positions for Bitcoin around 72500 to 72800, targeting around 71000; for Ethereum, enter short positions around 2670 to 2690, targeting around 2610.

Currently, the market outlook is relatively good. I recommend trading altcoins like ORDI, LPT, SOL, and UNI in a swing trading manner, with specific operations based on real-time guidance. For more strategies, you can follow the public account: Trader Liang Qiu.

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