Market panic causes prices to weaken; buy the dip with stop-loss to control risk! 11.4 Bitcoin Auntie Strategy

After experiencing a historic three-week liquidation storm, cryptocurrencies still haven't stabilized. Due to hacker attacks on token network protocols, prices continued to plummet on Monday. In mid-October, the "large-scale" tariff threat from the President triggered investors to flee cryptocurrencies into safe-haven assets like gold. Last week, Federal Reserve Chairman Powell warned investors not to expect too much from future rate cuts, which intensified market bearish sentiment! Yesterday, long positions were taken after shorting, resulting in significant losses, and unexpectedly, prices broke below previous lows!

The three consecutive daily bullish candles were ended today, closing with a long upper shadow and a large bearish candle. The Bollinger Bands are opening up, with the price retracing to the lower band resistance. The KDJ indicator has a death cross and is diverging downward for the second time. The MACD lines are once again forming a death cross downward. Trading volume is increasing, indicating a generally bearish trend. Therefore, for intraday trading, Conan suggests mainly shorting on rebounds! Key resistance levels are at 107,100, 108,300, 109,000, 110,700, 111,500, 112,000, 113,500, and 115,000. Support levels are at 105,700, 105,200, 103,400, 101,600, 100,000, and 98,000.

11.4 Shorting Strategy:

Short BTC at 108,200-108,700; conservative traders can enter at 109,200-109,700, with a stop around 110,500. Targets are around 107,000-106,500-106,000. If broken, look at 105,700-105,200 and move stop-loss accordingly to lock in profits.

For Ethereum, short at 3,680-3,720; conservative traders can enter at 3,740-3,780, with a stop around 3,820. Targets are around 3,600-3,570-3,550. If broken, look at 3,500-3,450-3,420-3,400 and adjust stop-loss accordingly.

11.4 Long Strategy:

If BTC retraces to 105,200-105,700, consider going long; conservative traders can enter at 104,000-104,500, with a stop around 103,000. Targets are at 106,500-107,100. If broken, look at 107,500-108,200-108,700 and adjust stop-loss accordingly.

For Ethereum, buy on retracement to 3,520-3,550; conservative traders can enter at 3,420-3,450 with a stop around 3,400. Targets are at 3,600-3,650. If broken, look at 3,700-3,730-3,720 and move stop-loss accordingly.

The support level that has held for a long time was broken on Monday. Whether the market continues downward or rebounds is still uncertain. However, technically, the price has tested the support at 105,200/3,550 multiple times without breaking, so a rebound is possible. Therefore, it’s not overly bearish for now! #参与创作者认证计划月领$10,000