Zhou Yanling: Is the current Bitcoin bull market coming to an end on October 31? Latest trend prediction analysis and how to resolve short positions
Recently, many fans have been asking Yanling, "How much longer can Bitcoin rise?" Perhaps everyone has also seen that some traders in the market are increasing their bets on Bitcoin, and many predict that Bitcoin will break through the historical high of $80,000 by the end of November. Some institutions have even provided considerable target prices, suggesting that Bitcoin's price could reach as high as $200,000 by the end of 2025, among other similar statements. However, Yanling advises everyone to approach such claims rationally. Whether they are hype or if it will really reach such heights, retail investors should not blindly follow the trend. It is best to focus on what you can manage and earn within your understanding, without overthinking the rest.
From a fundamental perspective, how far can Bitcoin's latest "surge" go? In the short term, the Trump trade and loose monetary policy are the two main "catalysts" for this price surge. However, these influences are also temporary, and ultimately, the market will return to normal technical conditions. Yesterday's fluctuations illustrate this point; the market is now entering a short-term adjustment phase, and this week it will soon face the arrival of non-farm payroll data. Although this data may not necessarily impact bulls and bears, many previous negative results did not lead to a cyclical decline. Therefore, the best outcome would be for Bitcoin to experience a decline before the non-farm data is released. If it continues to rise before that, there will definitely be issues once the non-farm results come out.
Now that it is Thursday, the daily level has already broken away from the previous consolidation platform, showing a clear breakout and upward movement. At this point, asking bulls to stop is impossible. If yesterday's fluctuations were a sign of an impending decline, Yanling would be eager to go short. However, so far, there has been no pattern or structure that allows us to find a position for a significant short. Even if there is, it would only be a brief short-term pullback and cannot be considered a trend change. Therefore, in terms of operations, Yanling believes it is still best to focus on buying on dips, with short positions at high levels as a supplement.
October 31 Bitcoin trading strategy:
Buy at 71,100-71,700, stop loss below 70,600, target 72,800-73,300. If it breaks the historical high, look for around 74,500.
Sell at 73,200-72,700, stop loss above 73,700, target 71,400-70,800.
October 31 Ethereum trading strategy:
Sell at 2,690-2,655, stop loss above 2,730, target 2,620-2,580.
Buy at 2,580-2,620, stop loss below 2,540, target 2,690-2,720, continue to look for around 2,780.
What to do if your short position is trapped:
Recently, the market has been quite volatile, and many friends who have contacted Yanling have found themselves trapped in low short positions, seeking help for a resolution plan. Everyone should not be overly anxious; there will be opportunities for a market pullback, and as long as you grasp it well, you can resolve your positions. If you are currently trapped, don’t worry; just find me. Since everyone's situation is different, with varying positions and points, I cannot provide detailed resolution plans and operational points here. You can follow my public account: Zhou Yanling, to obtain more specific resolution plans.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's 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 (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, resolution consultations, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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