Trader Chen Shu: 10.22 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, Divergence in Long and Short Positions, Watch for Support at 6.72

In the analysis from the afternoon of October 21, the strategy was to go long at 6.82/2690. After entering the long position, the price quickly fell. Subsequently, the midnight analysis provided a long position strategy at 6.68/2650 and added to the long position. Currently, the price has temporarily stopped falling and rebounded. Please see the following analysis for operational guidance.

From the daily chart of Bitcoin, yesterday closed with a large bearish candlestick, briefly dropping to the daily MA10 moving average for support. Today, after piercing the MA10 line, it closed above the 10-day line. In the short term, first pay attention to the MA10 moving average (6.72) for support and resistance. If this line is lost, the short term will fall into a consolidation phase; conversely, if it holds, there is still a chance to test 70,000 again. For today, focus on the support at 6.72; on the 4-hour chart, after yesterday's spike at MA60 (6.66), it stopped falling, with short-term resistance at the MA30 moving average (6.8). Watch to see if it can stabilize above this line.

From the daily chart of Ethereum, yesterday's high encountered resistance at the MA120 moving average (2780), and it stopped falling near the daily MA10 moving average (2630). Similarly, in the short term, pay attention to the support and resistance at the daily MA10 moving average; on the 4-hour chart, the short-term resistance is at the MA30 moving average, which is 2655. Watch to see if it can stabilize above this line.

Afternoon Operational Strategy:

BTC: Short at 6.80-82, target 6.67-6.64; Long at 6.64-67, target above 6.8

ETH: Short at 2680-2700, target 2630; Long at 2630-2600, target in the 2660-80 range

Note: Yesterday closed with a bearish candlestick and broke below the MA5 moving average. Currently, the price is consolidating above the 10-day line. It is important to monitor whether the daily MA10 moving average at 6.72 can hold. If it is lost, as mentioned in last night's analysis, the short-term upward trend may temporarily end.

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

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