Analyst Chen Shu: Is the bullish trend over after the rapid decline on October 8? Midnight market analysis / with trading strategy

Market Analysis: The daily chart of Bitcoin currently shows a large bearish candle, with the price directly breaking below the MA5 daily moving average. As mentioned in the afternoon article, after breaking below the 1/4 hour MA5/10 moving averages, we should look for a short-term pullback correction. Key support levels to watch are the 120,000 psychological level and the 11.76 line of the MA256 daily moving average on the hourly chart. Ethereum's daily chart is also currently showing a bearish candle. If the price continues to decline, key support to watch is the MA30 daily moving average at the 4380 line. The 1/4 hour chart has also broken below the moving average support, with key support levels to watch at 4380-4330.

Trading Strategy (Published at: 00:30):

BTC: Long at 120,000/118,000, target for a rebound of 1,000-3,000 points; consider short positions at the 122,800/123,500 line.

ETH: Long at 4,380/4,300, target 4,450/4,550; consider short positions at the 4,530-4,600 line.

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

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