10.31 Bitcoin and Ethereum retracement to go long again for profit-taking, subsequent trend analysis and operational suggestions!

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1 month ago

Trading Philosophy: Look at the trend in the long term, find entry points in the short term;

Technical Analysis: For Bitcoin, after four consecutive daily gains, it closed with a small bearish candle. The Bollinger Bands continue to open upwards, the MACD moving averages continue to rise, bullish volume continues to increase, and the KDJ line continues to move upwards. On the 4-hour chart, the Bollinger Bands are narrowing upwards, the price has retraced after reaching the upper band, and the MACD moving averages have started to move downwards, with bearish volume gradually increasing, while the KDJ line is moving upwards again;

For Ethereum, it closed with five consecutive daily gains, the Bollinger Bands continue to narrow upwards, the MACD moving averages continue to rise, bullish volume has started to increase, and the KDJ line is moving upwards. On the 4-hour chart, the Bollinger Bands continue to narrow upwards, the MACD moving averages have started to move downwards, bearish volume is beginning to increase, and the KDJ line is moving downwards;

In summary, the market trend has currently made a second peak after a retracement. It is expected that the market will experience slight fluctuations and adjustments, and as long as the support remains effective, one can continue to buy on dips. The buy-on-dip strategy provided last night also successfully took profit again!

Operation Suggestion: Buy on dips!

Buy Bitcoin in the 71300-71700 range, target 72500-73500, with a stop loss at 70800;

Buy Ethereum in the 2600-2620 range, target 2680-2750, with a stop loss at 2580;

The strategy is time-sensitive, please refer to private real-time guidance for specifics!

Follow the WeChat public account Yunyan!

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