Trader Chen Shu: 10.11 evening market strategy reminder, short-term slow rebound pay attention to pressure level
In the short term, Bitcoin has been rebounding continuously since it fell by 5.9. The price has now come to above 6.1 again. The current short-term pressure level focuses on the 1-hour MA120/256, that is, the 6.18-6.2 range. This line of pressure is also the 4-hour MA30/60 daily moving average pressure. The midday strategy gives a light position short at 6.14, and the 6.2 position short strategy can be executed. You can enter the market with an ant position near 6.14 to see the breakthrough of the pressure level. If there is an opportunity near the daily MA256/30 daily moving average (6.21), you can go short directly. The support level is around 6.05.
Ethereum touched the pressure level near 2430 at night. Compared with Bitcoin, the rebound strength is slightly weaker. The key pressure level is the 4-hour MA256 daily moving average, which is 2460, and the daily MA30 daily moving average is 2480. If you touch these places, you can try to make a short order at the pressure level. Just like Bitcoin, you can go short at around 2430. The support level can be around 2400.
Evening operation ideas:
BTC: 6.14 light position short, rebound 6.2 increase short position, target 6.05, break and reduce position to hold and look down to 5.9; long positions need to refer to the stabilization of 6.05, rebound and short mainly
ETH: 2430 light position short, rebound 2460-80 increase short position, target 2400, break and reduce position to hold and look down to 2350
Note: Although the short-term has closed several red K lines in 4 hours, the upper pressure level needs to be paid attention to. If it can't rush up in large volume, it is expected that it will fall back when it encounters resistance. Only when it stands strongly above 6.2 can we look at the market with a long position.
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