Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: October 14, 15:09 Beijing time
Market Information
- The Governor of California signs a bill to protect unclaimed crypto assets;
- The total market value of gold surpasses $28 trillion, ranking first among global assets;
- Market turbulence before Powell's speech, with increased volatility in multiple sectors;
- Demand for bearish options on Bitcoin and Ethereum surges, as the market hedges against downside risks;
- JPMorgan will allow clients to trade cryptocurrencies;
- Federal Reserve: The market expects an interest rate cut to 3.75%-4.00% in October;
Market Review
After market liquidation, the weekend saw a rebound, with the market warming up. The altcoin market also experienced varying degrees of gains. This wave of liquidation mainly targeted the contract market. As of now, Bitcoin's highest point reached 115,912, and Ethereum's highest point reached 4,293, both showing different levels of rebound;
Market Analysis
Bitcoin
On the daily chart, Bitcoin rebounded over the weekend. Previously, we set up a short position around 114,000, with a stop loss at 116, which has not been triggered. Currently, the profit is over 2,000 points. The weekly closing left a long lower shadow, and Monday's daily close was positive. Overall, the future market trend will return to a volatile pattern. Previous short positions can be exited, and in the short term, a long position can be set up around 111,000, with a stop loss at 109,500 and a target near 114,000. Upon reaching 114, adjust the strategy for a short position based on market trends. Manage entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;
Ethereum
Ethereum's overall trend leans towards downward volatility, continuously breaking lower levels, with the rebound strength not being significant. The previous short position at 4,000 was stopped out, and the current rebound has reached the first resistance near 4,235, after which a decline occurred. In trading, there is a significant chance for Ethereum to continue breaking lower. A rebound can be used to set up a high short strategy, with a recommended entry point around 4,080, a stop loss at 4,180, and a target near 3,600. Manage entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;
In summary:
Short-term trading strategies for Bitcoin and Ethereum should be managed based on personal entry opportunities;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss market trends together;
In the crypto world, some people's demands can only be met by scammers. Everything cheap must be taken by oneself, and only scammers can satisfy these.
Trading is not always smooth; not every transaction goes as planned. That is just noise in the pursuit of profit. Compared to seeking technical breakthroughs, I focus more on psychological development. Most people do not fail against themselves but against the self that confines them in a room. Even if life or trading is unsatisfactory, believe that there is light in the world and love among people. Even the smallest happiness in life should be embraced with a smile. Only by overcoming oneself can the future market bring unexpected surprises! Keep going, crypto community.
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