Liying Chat Coin: 10.31 Latest Market Analysis of Bitcoin (BTC) and Ethereum (ETH)
Hello, everyone! The current price of Bitcoin is 77600. Today’s market looks truly frightening, as Bitcoin has slid directly down from the 80000 mark to around 77600. It seems like profit-taking has occurred after the previous high volatility. The current price is stuck in the 77500-77600 range, which is the previous dense transaction area, also known as the old bottom. If it holds here, it would be an excellent opportunity to catch the reverse; if it cannot hold, it may test lower psychological thresholds. The current technical trend does lean bearish, but there are clear signs of being oversold. The EMA moving averages are in a strong short-term bearish arrangement, and the MACD indicator's downward momentum hasn’t been fully released yet, so there remains a risk of continued decline. Prices have diverged too far from the lower band, indicating a need to revert to the middle band. Moreover, the lower band is opening downward, suggesting increased volatility. Overall, the short-term outlook is extremely weak, but there is a need for a technical rebound correction.
Long and Short Trading Strategies
Long: 76500-76800. Stop loss below 76000, target sequentially at 78500 and near the Bollinger middle band at 79100.
Short: 78800-79200. Set stop loss above 79600, target at previous low 76500, and if it breaks, look for 75000.
Risk Warning: Current volatility is extreme; please ensure to keep your position size within 5%.
Ethereum
Hello, everyone! The current price of Ethereum is 2230, which seems to have stabilized, but a closer look shows that this candlestick has just climbed out of a pit and is still topped by several peaks. The previous drop was too severe, scattering the market's enthusiasm. Although there is a slight rebound now, it feels like a dead cat bounce after a large decline. The current market situation is a classic bearish arrangement, indicating that the downtrend is not over. There is significant pressure above, and any slight increase immediately triggers selling pressure. The technical indicators still appear bearish. The moving averages show a perfect bearish arrangement, and the MACD indicator has a bullish crossover below water, which typically can only be seen as a rebound after an excessive drop, not a reversal signal, and momentum is not strong. After previously breaking the lower band, the price has returned inside the channel, with the middle band currently at 2281, which is a strong pressure point in the short term. As long as the price cannot effectively break through the resonance pressure zone of the Bollinger middle band and EMA30, the overall trend remains in a weak range, searching for a bottom.
Strategy Recommendations
Short position: 2280-2290, set stop loss above 2305, target at 2200 and previous low 2172.
Long position: 2210-2220, stop loss below 2195, target only at 2260-2270 before exiting.
Liying Reminder: Currently not suitable for heavy positions betting on reversals, rebounds are a good opportunity for short positions; don’t act until you see results.
The above content is exclusively written by Liying, please indicate the source if reprinted! There may be delays in article review and publication, and market conditions change rapidly; the above suggestions are for reference only, risk is to be borne by the reader.
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