Today is Friday, October 31st. Let's analyze how the market will operate today.

First, after the price retested 3840 twice and rebounded, it failed to reach a new high, and ultimately, the price entity broke down, continuing the bearish trend from the support point of 3,806. After touching the support levels at 3,700 and 3,670, it rebounded again.

This rebound formed a V-shape on the hourly chart, and so far, the price has encountered resistance around 3,840 and 3,850.

This level has turned into a resistance point from the long position we took yesterday, so the price lingered briefly around 3,840 and 3,850. The ideal short position should be around 3,920-3,930 on the hourly chart. Currently, the support level is at 3,800-3,780, so in the short term, the price is constrained between 3,780 and the resistance at 3,840.

Looking at the four-hour chart, we see that the overall trend is still bullish because the 5-day moving average is firmly above the 30-day moving average. Additionally, the moving averages are diverging, indicating a positive outlook for future price movements.

We expect a rally after the 5-day and weekly moving averages close in sync on November 3rd. The 5-day moving average has also shown a bottoming signal from the TD indicator, suggesting a higher probability of an upward trend in the coming days. Therefore, we should focus on low longs and use high shorts as a supplement.

In addition to the 5-day moving average showing a bottoming signal, the 6-hour chart has formed a bottoming pattern. After the price reached 3676, it created a 6-hour doji candle with a long lower shadow and a short upper shadow, leading us to believe that a rally is likely.

Moreover, the 6-hour chart has formed a bottoming pattern, and the TD indicator has shown a bottoming signal with a TD 13. Thus, today's market should primarily focus on low longs, with high shorts as a supplement.

The reason we emphasize low longs is due to the 5-day moving average bottoming and the 6-hour chart showing a bottoming pattern. The high shorts are because, so far, the 3-hour chart is still under a mid-band resistance.

On the 4-hour chart, the mid-band resistance is still around 3870, so I predict that the market will first undergo a low-level consolidation. After completing this low-level consolidation, the price should break above 3870, continuing the bullish trend and moving into a high-level consolidation.

The price may reach 3930 and 3940 before pulling back.

Ultimately, the main focus should be on upward breakthroughs. For the smaller time frame, we can use the 15-minute chart to devise a strategy. Currently, Ethereum's price is around 3835. When we set up our positions around this price, it is currently constrained between the 15-minute support at 3780 and the 4-hour mid-band resistance at 3850. We set our stop-loss at the breakout point of the 15-minute moving average, for example, at 3760.

Since the 6-hour chart has shown a TD 13 bottoming signal and the 5-day moving average has shown a TD 9, we still consider the larger time frame to focus on low longs, with high shorts as a supplement.

Currently, we need to observe the stability of the mid-band on the 3-hour and 4-hour charts. The current price is constrained between 3780 and 3850, leaning towards a bullish trend.

From the perspective of the 3-hour and 4-hour mid-bands, it should be slightly bearish in the short term, but from the 6-hour chart and above, the bullish trend prevails.

The stable short position is between 3920 and 3940, which is the mid-band resistance on the 12-hour chart, as well as the mid-band resistance at 3920 and 3930 on the 6-hour chart.

Therefore, if we want to short, the first stable point should be around 3920 and 3930. In the 15-minute chart, we should also watch for a drop below 3760, which would continue the small bearish trend and test the lower levels of 3760 and 3670.

If 3670 is lost, the bearish trend will continue to decline.

For more strategies, follow the public account BTC-ETH Crypto.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。