Zhou Yanling: 10.17 Bitcoin BTC and Ethereum ETH Latest Trend Prediction Analysis and Trading Strategy
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After the historic crash on the morning of the 11th, the market has clearly entered an adjustment phase. Note that I said consolidation, not a trend reversal. During this period, there will definitely be some sharp declines and fluctuations. If it's not absolutely necessary, you can completely avoid trading over the next two days and observe how the market consolidates. Of course, for experienced traders, we really like this kind of consolidating market because the operational risk is relatively low and much safer. Even if your entry point is poor, there is still hope for recovery, unlike before when you could be wiped out in one go. In this kind of market, short-term trading back and forth is very stable.
Currently, we can continue to treat the end of the week with a weak oscillation. Technically, the market is also leaning towards a weak oscillation: the daily chart shows a continuous decline in coin prices, forming consecutive bearish candles, especially the two large bearish candles on October 16 and 15 indicating heavy selling pressure in the market. The hourly chart shows oscillating trends, with prices fluctuating within a narrow range, testing the lows multiple times but failing to break through effectively, indicating short-term rebound demand. The MACD indicator on the hourly chart is in the negative zone, with both DIF and DEA diverging downwards, indicating that bearish forces are dominant, but the histogram is shortening, suggesting that downward momentum is weakening. The RSI on the hourly chart is at 33.75, close to the oversold zone, indicating possible short-term rebound signs; the daily RSI remains in a weak zone, with a bearish trend. The EMA on the hourly chart shows a bearish arrangement with prices below EMA7, and the overall trend remains bearish. The daily EMA also shows a bearish arrangement, further confirming the mid-term downward trend.
Zhou Yanling's 10.17 Bitcoin Trading Strategy:
Short at 111000-110000, stop loss above 112000, target 106500-105500
Long at 105500-106500, stop loss below 104500, target 108500-109500
Zhou Yanling's 10.17 Ethereum Trading Strategy:
Short at 4020-3980, stop loss above 4060, target 3840-3800, continue to look for a decline near 3720
Long at 3750-3800, stop loss below 3700, target 3860-3900
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. The author has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, focuses on capital management and risk control, and is recognized by many investors for a stable and decisive trading style, along with a friendly and responsible personality.
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