Zhou Yanling: 10.10 Today's Focus is on Rebound Before Shorting, Pay Attention to the Rhythm of the Range
Finally, we have waited for this wave of price decline! You may still be confused about where to short today, but what Yanling is contemplating is what stage this market has reached. Clearly, the bears are not fully liberated yet, because you need to consider the support risk at the 60000 round number. If the current price can maintain a small oscillation below 62000 or 61600, then Yanling believes there is a 90% chance of breaking the 60000 level later. However, currently, it is a single bottom, so you have to think about whether it can become a short-term bottom signal.
The market has reached a crossroads, and it is time to make a choice. Moreover, it is important to note that the U.S. CPI inflation data for September will be released tonight at 20:30. The direction of the Federal Reserve's monetary policy may be revealed in this inflation report. If this CPI inflation falls short of expectations, it could undermine market confidence in the Fed cutting interest rates by 50 basis points, at least affecting sentiment. Only if inflation drops below the expected range of 2.3% could the price decline come to an end, and the current adjustment would be over. However, the measure of this end is not just whether inflation drops below 2.3%, but more crucially whether the 62000 level has been taken down, so the next few days' movements are extremely critical.
10.10 Bitcoin Trading Strategy:
Buy at 60600-61000, stop loss below 60100, target 61500-62000, continue to break upwards looking at around 62500.
Sell at 62000-61600, stop loss above 62500, target 61000-60500, continue to break down looking at around 60000, and then around 59400.
10.10 Ethereum Trading Strategy:
Buy at 2380-2400, stop loss below 2350, target around 2440, continue to break upwards looking at around 2475.
Sell once at 2450-2420, stop loss above 2480, target 2380-2350, continue to break down looking at around 2310.
[The above analysis and strategies are for reference only. Please bear the risks 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 and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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