Click on the link to enter the live stream: https://meeting.tencent.com/p/5658778060
Tonight's data: 8:30/US October unemployment rate/Non farm payroll report/
Course theme: The undeniable practical value of the three moving averages; But it needs to be used correctly/
BTC/ETH Trend Analysis and Opinion: Bitcoin hit a historical high near 73660 on October 29th, and after a strong consolidation of one trading day, it finally launched a bearish pullback trend as scheduled on Wednesday; This is consistent with the viewpoint repeatedly emphasized by the teacher during the live broadcast; It is true that there is a probability of reaching new highs at any time due to strong performance, but chasing long market trends near historical highs is absolutely inappropriate; Better miss than risk chasing after too much; It is necessary to wait for a reasonable decline and a reasonable turning point before attempting low to high opportunities; From the high of 73660 to the current price of 69400, the price has still fallen by more than $4000. Those who follow the teacher's live analysis and listen to the teacher's opinions in the live broadcast room should have avoided many risks;
Returning to technical trend analysis; The daily trend of BTC is still in a bullish trend, as the trend line from the low point of 52500 on September 6th to the high point of 60000 in early October remains intact; Maintaining a bullish mindset above the trend line is undoubtedly the correct viewpoint; Enter three trades at high levels to form a standard Twilight Star bearish combination; Is the pullback giving low and long entry opportunities or will there be a deeper pullback; The focus is on the market performance. The current range of 70000 to 69000 has already withdrawn as scheduled, but as for the daily chart, it needs to wait for the closing line to be confirmed; It can be expected that the loss of the first important support will lead to a downward trend near the 65000 trend line of the second support; This is the real test of whether the bulls in recent months can continue; Overall, it remains much lower above the trend line; The effective breaking trend line will have greater retracement space; So partners waiting for bulls to enter need to patiently observe for another day or two before revealing the answer;
Short term trading opportunities within the day? Looking for specific locations? We will also share in the live broadcast room how to find opportunities for both long and short positions to enter;
Welcome to the Tencent Meeting live broadcast room to discuss and exchange with teachers for more details on currency operations and trading issues!
Recommended strategy [Long position, oscillation]
Focus on Support Resistance Today
BTC resistance/7300-73800/support 65000-64000
ETH resistance/2700-2770/support 2500-2430
For more details, welcome to the live broadcast room for discussion, learning, and exchange!
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Disclaimer: The above content only represents the author's personal views and is for communication and sharing purposes only. It does not represent the position or viewpoint of AICoin and does not constitute any investment advice or external contacts based on this. It is not related to AICoin and the consequences are borne by AICoin.
