Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey. Good afternoon, everyone! I am the King of Coins from the Coin Victory Group. Thank you all for coming here to watch the King’s articles and videos, and I hope the brothers who have been following the King will return.
Click the link to watch the video: https://www.bilibili.com/video/BV1riSJY9ENS/
First, let's review yesterday's strategy. In the article published on the afternoon of October 30, we provided a long position idea for Bitcoin at 7.16 and Ethereum at 2635. The market rebounded to a high of 7.3 and 2720, respectively, yielding profits of over 1000 and 80 points. The evening analysis suggested setting up a short position for Ethereum at 2720, which fell to a low of 2635, resulting in another profit of over 80 points. Congratulations to those who followed the operations! The current price remains in a narrow range above 7.2. Please see the analysis below for the upcoming operational suggestions.
From the daily chart of Bitcoin, yesterday's price action closed with a bearish candle with a lower shadow due to the decline in U.S. stocks in the evening. However, the current price has rebounded back above 7.2. Today, we need to focus on whether the 7.2 level can become a strong support point for the bullish-bearish transition. The 4-hour chart shows that after last night's fluctuations, the price remains above the MA5 and 10-day moving averages. We need to observe whether this support can remain solid; if it fails, a short-term correction may occur; if it holds, we can expect to test 7.3 again. The operational suggestion is still to focus on buying on dips.
BTC Strategy: Lightly position long orders in the 7.22-7.17 range, targeting above 7.3; short orders can be attempted in the 7.35-7.4 range with a small stop loss. This is the strategy for Bitcoin today.
If any friends are stuck in positions, feel free to reach out to the Coin Victory Group, and I will help you resolve the issues.
Now, let's take a look at the Ethereum market. From the daily chart of Ethereum, yesterday's movement was consistent with the analysis in recent articles. The price touched the 120-day moving average and then retraced over 80 points. The strategy yesterday also arranged to short at this line, perfectly predicting the profit. Today, we will continue to monitor the breakthrough situation at the pressure level of 2710.
ETH Strategy: Position long orders in the 2640-2610 range, targeting around 2700; near 2710, set a small stop loss and attempt a short position, targeting a retracement of about 50 points.
Today, we will focus on whether the 4-hour MA5 and 10-day moving averages are lost. As long as the price continues to fluctuate above these two moving averages, the trend remains strong. We should also observe whether the previous low of 7.14 is broken to further assess the market's strength. We will conduct live broadcasts of the market from Monday to Friday at 8:30 PM. Friends in need can find the Coin Victory Group online, and I will send you the link to the live room.
This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been mainly characterized by fluctuations, accompanied by intermittent spikes. Therefore, when making trades, please remember to control your take profit and stop loss. In the future, when facing major market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group online and contact me for the link. We mainly focus on spot and contract trading for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in strategies around high and low support and resistance for short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly top predictions, and monthly head predictions.
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