Trader Chen Shu: 10.2 Midnight Bitcoin and Ethereum Market Strategy *No. 2, Perfect Short Position Achieves Great Success, Rebound Continues, There is Still Room

In the analysis article on October 1st, a short position was suggested at 6.41/2650, with the short position dropping to around 6.18/2480 in the short term, yielding a profit of 2200/150 points, with the entry point at the highest price. The article is publicly available across the network, rejecting any hindsight analysis. Congratulations to friends who followed the market strategy! October starts with a 100% win rate, and the entry points were accurate. Currently, the market is weak in its rebound. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, as analyzed in the past two days, the market has fallen as expected to the daily MA120 moving average line (6.2) where it has stopped falling. The short-term support depends on whether 6.2 can hold. If it can hold, there will be a short-term adjustment around this line; otherwise, the downward trend will continue to test the support of the MA256/30/60 moving average price range, which is around 6-6.1. I am more inclined to continue the pullback and test around 6.1 near 60,000. Looking at the 4-hour chart, the current price is about to break below the MA120 moving average (6.23). If it fails to hold, we will continue to look at the 256-day moving average (6.05) and the 6-hour 256-day moving average (6.03). To end the short-term pullback trend, the market needs to stabilize above 6.2 and break upwards.

As for Ethereum, as analyzed yesterday, a short position was suggested at the highest point of 2650, with a minimum drop to 2480 before stopping. The short-term pressure depends on whether the 4-hour MA256 moving average (2510) can hold, as well as the support of the 6-hour MA120 moving average (2460). First, we need to see if the 2460 line can hold. If it fails, it will test the low of 2400.

Midnight Operational Thoughts:

BTC: Rebound at 6.25/6.3/6.33/6.35 can be lightly shorted, with the short position target first looking at 6.2. If it breaks, reduce the position and hold to look at support levels of 6.13/6.06/60,000, etc.; do not consider long positions for now. (For the medium-term short position at 6.6, reduce the position and hold to look at around 6.05)

ETH: Rebound at 2520/2550 can be lightly shorted, with a target of 2460. If it breaks, reduce the position and hold to look at around 2400; (For the medium-term short position at 2700, reduce the position and hold to look at around 2400)

Note: Currently, the short-term rebound strength is weak, and there is no trend to go long for a rebound. In this case, we only need to continue shorting at resistance levels during the rebound, taking profits and reducing positions at key support levels. Overall, the trend still leans towards a bearish consolidation, so treat rebounds as opportunities to short.

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply one by one!

For real-time market strategy communication and consultation on market issues, you can follow my personal account homepage, originally (Coin World), ranked first among personal KOLs, providing free guidance and answering trading questions. Everyone is welcome to communicate and exchange ideas!

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