On October 31, take profit on Bitcoin and Ethereum long positions, and continue to aggressively short for a pullback!

CN
18 days ago

Currently, from the daily level of the market, Bitcoin has touched the previous high around 73800. Even if it breaks the previous high, I personally believe it will still pull back to support to gather strength before breaking through again. Therefore, I expect a retracement to the support level of 71500-70000. The current market has moved as expected, pulling back to support for a second attempt at the peak. The resistance level is still seen at the previous high of 73000-73800. As for Ethereum, it has shown a supplementary rise, with the current resistance level still effective at 2700-2750. After testing, it has fallen back again, with support at around 2600. If it breaks below this, a new round of decline will begin. If it stabilizes above 2700, it will continue to look up to 2877!

Looking at the 4-hour chart, both Bitcoin and Ethereum are in a situation where they have made a high, pulled back to support, and are now attempting to peak again. Currently, the peak has not effectively broken through. For tonight's operations, I still recommend continuing to short aggressively. The aggressive short position given last night has also successfully taken profit!

Trading strategy: Aggressive short!

Short Bitcoin at 72400-72800, target 71500-71000, stop loss above 73800;

Short Ethereum at 2690-2720, target 2650-2600, stop loss above 2750;

The strategy is time-sensitive, and specific guidance will be provided in private 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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