Li Ying's Chat About Currency: Latest Market Analysis of Bitcoin (BTC) and Ethereum (ETH) on 10.12
Dear family! The current price of Bitcoin is 83100, after a deep squat rebound at 80344, it bounced back up, but it seems to be pressured at the 83000 level. This is actually a typical recovery market after a sharp drop. Don't just focus on the red and green bars in front of you; look at the bigger picture. The current trend is like a spring that has been heavily pressed down and is trying to bounce back, but there are many trapped positions above, creating significant pressure. The price is running above the middle track, with the upper track being pressured around 83214. If the price can stay above the middle track and break through the upper track, the rebound will continue; conversely, if it breaks below the middle track, it may test the bottom again.
Practical Suggestions:
Long Position: Rebound at 82600-82800 (EMA7/Bollinger middle track resonance area) to enter long, stop-loss < 82200, target 83500 (EMA120) and 84000.
Short Position: After a rise to 83500-83600 (EMA120 resistance area), look for long upper shadows or bearish engulfing patterns to try shorting, stop-loss > 83850, target 82900.
Risk Control: During the fluctuation period, position size ≤ 30%, strict stop-loss, do not hold on to positions.
Ethereum
Dear family! The current price of Ethereum is 2508. This wave of the market is really quite exhausting, having dropped all the way down from the 2779 high, nearly wiping out people's confidence, with a low reaching 2405. However, fortunately in the past few days, the price has stabilized around the round number of 2500 and did not continue to break down. The current state is like a person recovering from a severe illness; although the bleeding has stopped, there is still no strength to run. The K-line is bouncing around the middle track of the Bollinger Band, indicating that both bulls and bears are tangled here, and no one dares to act recklessly. For us retail investors, now is not the time to rush to catch the bottom or chase the rise; this kind of fluctuation market is the easiest to get slapped in the face, and the best strategy is to wait patiently for a clear direction.
Long and Short Practical Strategies
Follow the big trend, mainly short, with low long positions as support, strictly control position size.
Main strategy for shorts: Focus on the strong resistance area of 2550-2570. If a rebound reaches this point and a long upper shadow or bearish engulfing appears, decisively short. Stop-loss at 2590, initial target at 2510, if broken, hold for 2450.
Supplementary strategy for short longs: Only attempt to play a double bottom long when rebounding at 2450-2460 and not breaking the previous low of 2405. Stop-loss at 2420, target around 2500.
Risk Control Reminder: Currently in a “fish tail” fluctuation period, with less meat and more spines. It is recommended to control position size within 10%, and do not heavily bet on direction.
The above content is exclusively created by Li Ying, please indicate the source when reprinting! There may be delays in article publishing review, and the market changes rapidly; the above suggestions are for reference only and risk is borne by the user.
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