Zhou Yanling: 10.7 Bull Market Does Not Speak of a Top - Latest Trend Prediction and Trading Strategy for Bitcoin BTC and ETH Today
The most frequently asked question from fans recently is, where will the price of the coin rise to? Will it break through 130,000? I can only say that in a bull market, we do not speak of a top. Looking at the daily chart, we have already seen six consecutive bullish days. How many opportunities to get on board have you missed? As the U.S. government shutdown enters its second week, the current data releases have been interrupted (the delay in the September non-farm payroll report is a typical example), which has increased uncertainty for investors. This week, we will also see important speeches from the Federal Reserve, as well as the release of the Federal Open Market Committee meeting minutes on Wednesday. Currently, Yanling expects that the meeting on October 28-29 will still result in a 25 basis point rate cut, and the probability of another rate cut in December is as high as 82%, so there are many short-term favorable factors for the crypto market.
Now let's take a look at the technical analysis. In the short term, Bitcoin is oscillating around 124,500 on the daily chart, and yesterday formed a long upper shadow, indicating strong selling pressure above. The hourly chart shows a high-level pullback trend, with the closing prices of the K-line gradually declining in recent hours, but with many lower shadows, indicating some buying support below. The technical indicators show that the MACD histogram on the hourly chart continues to shorten, with the fast and slow lines approaching the zero axis, indicating weakening momentum; the daily chart is still in the positive zone but shows signs of a top divergence. The hourly RSI has fallen from the overbought zone and is currently around 51, indicating a neutral market sentiment; the daily RSI remains around 60, not yet entering the oversold or overbought zone. The hourly EMA7 and EMA30 have crossed and are diverging downwards, indicating a bearish short-term trend; the EMA120 remains upward, indicating a bullish long-term trend. The daily EMA moving average system is overall in a bullish arrangement. The trading strategy is to primarily go long in the big trend, with short positions as a supplement in the short term.
Zhou Yanling's 10.7 Bitcoin Trading Strategy:
Long at 122800-123700, stop loss below 122000, target 125500-126500, continue to look for upward movement towards 129000.
Short at 129000-128000, stop loss above 130000, target 126000-125200.
Zhou Yanling's 10.7 Ethereum Trading Strategy:
Long at 4640-4680, stop loss below 4600, first target around 4780, second target around 4900, if it breaks 5000, continue to hold for upward movement.
Short at 4930-4880, stop loss above 4970, target 4700-4660.
【The above analysis and strategies are for reference only. Please bear the risk 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 crypto contracts/spot operations. He 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 investment friends for his steady and decisive trading style, as well as his easygoing and responsible personality.
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