Analyst Chen Shu: 10.17 Short Position Wins Big, Continue to Be Bearish, Midnight Market Analysis / Accompanying Trading Strategy

Market Analysis: Bitcoin's daily chart has once again closed with a large bearish candle, with the price breaking below the previous support level of 110,000. The next support to watch is the previous low of 107,000, and it is expected to drop to a deeper position at the major weekly MA30 moving average of 106,600. For Ethereum, the daily chart shows a decline that is about to reach the MA120 moving average at 3,830. Pay attention to the situation if this level is lost; if it breaks, it will continue to look down towards the low of 3,750.

Trading Strategy (Published at: 00:30):

BTC: Short at 109,000/110,000, target 117,000/116,700; Long at 116,600/115,500 looking for a rebound of around 2,000 points.

ETH: Short at 3,930/3,980, target 3,830/3,750; Long at 3,800/3,700 looking for a rebound of 80-150 points.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!

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