Bitcoin Market Analysis and Trading Suggestions for October 30 (Written at 4:11 PM):
The current price of Bitcoin (BTC) is around 110,500. This evening, the market experienced a drop below the 110,000 mark due to the stimulus from the market. The K-line is positioned at the MA200 level on the daily chart, forming a rebound after a stop in the decline. Currently, it is at the middle track position. We can see that the upper BOLL track is pressing down close to 116,000, while the middle track is also in a downward shape, but the lower track is still in an upward shape. Therefore, the recent major low can first be observed at the lower track and the MA240 (105,000) position. Today, we will first see if MA200 can provide secondary support before considering a short-term long position. If it breaks, the next support point will be the EMA200 (108,100) position. The green bars in MACD are shrinking, and the DIF and DEA are clearly converging. Both KDJ and RSI have formed a death cross pattern pointing downwards, indicating a significant short-term bearish trend. Therefore, the strategy of shorting on rebounds is undoubtedly the most prudent. On the daily chart, attention can be paid to the pressure zone between MA7 and MA150 for entry, with the stop loss placed above yesterday's high!
Sell Point Sharing: Light short at ≥112,000, stop loss above 113,500. Take profit below 110,000; if it breaks 109,200-109,200, you can continue to hold!
Buy Point Sharing: Light long at ≤109,200, stop loss below 108,000. Take profit at 110,800-112,000. For counter-trend long positions, ensure confirmation of secondary support before entering!
There may be delays in article review and push notifications. The above points are for reference only; please grasp the timing of buying and selling yourself. When entering, ensure proper risk control and avoid heavy positions! Thank you for reading!
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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration for the unknown in the days to come. Remember, the cryptocurrency world is not just about numbers and charts; it is also an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Continuously learn and enhance your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever and whenever, I cheer for you and look forward to your wonderful performance. I wish everyone a smooth journey in the cryptocurrency world, returning with a full load!
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