Market laws, twists and turns, cyclical changes, internal cultivation of the mind, external cultivation of actions, the road to success is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a story of learning and growth. Through hardships and beautiful scenery, never forget the original intention, and you will eventually succeed.
2023.10.3 BTC——————
Bitcoin started to decline last night at 10 o'clock, and accelerated its decline from 5 o'clock this morning. It is currently stabilizing around 27500, showing signs of an upward trend. However, the support level on the daily chart is around 27100, and if it cannot hold, the price will return to the original level of 26400. Looking at the short-term four-hour chart, the price is maintaining within the Bollinger upward channel, and after finding support around 27400 at noon, it continues to rise. The MACD indicator on the chart shows a high-level dead cross and downward movement, so it is under pressure from bearish selling, and the upward momentum is very slow. The 27800 level on the hourly candlestick chart is a resistance level, and short positions can be considered again for layout. The support level below is around 27180. Taking all the above into consideration, it is suggested to cautiously go long on the retracement for the day, and be aggressive for short-term short positions.
Pending Order:
Long at 27050-27200, defend 300 points, target 500-800 points above
2023.10.3 ETH———————
After Ethereum broke through the daily bullish suppression, it did not continue the bullish trend, and fell back to the first support level of the daily bullish trend at 1660. The second downward support level is around 1630, which is also the reversal point for both long and short positions. In the short-term four-hour chart, the price is in a Bollinger oscillating market, with a focus on short positions around 1690-1680 and long positions around 1640-1630. After a rapid breakthrough, the market will continue to oscillate, so patience is required. The key point on the hourly chart is the KDJ indicator, which shows a trend of forming a dead cross after the high-level adhesion. If Bitcoin continues to retrace, Ethereum will definitely seek support at the 1630 level and seek another upward momentum. Considering all the above, it is suggested to go long on the retracement for the day, with a focus on buying at lower levels.
Pending Order:
Long at 1630-1640, defend 30 points, target 50 points above
This article is exclusively created by senior analyst Qin Chuan. For more market information, follow the public account: Zhao Qin Chuan
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment is risky, so be cautious when entering the market.
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