Analyst Liang Qiu: 10.23 Bitcoin/Ethereum early morning trading strategy with market analysis



Bitcoin/Ethereum has been in a sideways consolidation since the sharp drop in early trading. Our strategy of entering after setting up a high position late at night was not very effective, but fortunately, the market has remained volatile today. This kind of market, as mentioned in previous videos, allows for opportunities whether going long or short; it just depends on the entry position and how much space one can capture. Currently, the market is seeing Bitcoin rising or consolidating, while Ether and altcoins are all declining. This kind of movement has been emphasized several times earlier as it is concealing the exit of Ether and altcoins, indicating that there is further space for the market to decline. Early morning attention should be on the resistance levels of 109500 to 11000 and 3900, watching for a pullback.

The early morning trading suggestion is to short Bitcoin around 108500 to 109000, targeting around 107000; for Ethereum, short around 3840 to 3870, targeting around 3760.

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ETH-2.21%
BTC-1.42%
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