The Federal Reserve's interest rate decision on November 8 is about to be announced, and here are the trading strategies for Bitcoin and Ethereum!

CN
16 days ago

On the daily level, Bitcoin has surged strongly following Trump's election, closing with a large bullish candle. It has now broken new highs, reaching around 76,400, with no pressure on the daily chart. However, the support below is tentatively seen at the previous high range of 73,000-74,000. Ethereum has also strongly broken through the box structure of 2,400-2,700 due to positive news, with the daily resistance previously mentioned at 2,877. Pay attention to the breakout situation, while the support below can be seen at the upper position of the box structure, around 2,700-2,750!

On the 4-hour level, Bitcoin has consolidated after reaching a high, with no pressure above, and can refer to the new high around 76,400. The short-term support is seen at 74,500-74,000. Similarly, Ethereum has also consolidated after reaching a high, pulling back to the range of 2,780-2,800, with the resistance still referring to the aforementioned 2,877. With the recent major positive news, the market has reversed. The medium to long-term short positions we previously set up have only taken half of the profits, with the loss of the principal part and all profits being given back. Therefore, in the face of a major market trend, it is essential to gradually enter the market or take profits in batches to prevent expanding losses during a market reversal! Although there is an upcoming Federal Reserve interest rate decision, which is expected to be a rate cut favorable, I personally still attempt to short aggressively, keeping a good stop loss, aiming for small losses to gain large space!

Trading strategy: Aggressive shorting!

Short Bitcoin at 76,200-76,500, targeting 75,000-74,000, with a stop loss above 77,000;

Short Ethereum at 2,860-2,890, targeting 2,800-2,750, with a stop loss above 2,920;

The strategy is time-sensitive, and specific guidance will be provided privately in real-time!

Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!

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