Zhou Yanling: 10.31 Bitcoin BTC Ether ETH today's latest trend forecast analysis and trading strategy

The Federal Reserve cut interest rates by 25 basis points as expected. However, what surprised the market was that Powell released extremely hawkish signals, stating "a rate cut in December is far from a done deal," which directly caused a collapse in the market. U.S. stocks fell sharply from their highs, the dollar rose, and the cryptocurrency market also plummeted, with the reduction of the balance sheet postponed until December. As a result, the market has temporarily tightened expectations for a rate cut in December, meaning that the rate cut expectation has temporarily fallen through. However, there is still more than a month until mid-December, and as data fluctuates during this period, expectations are likely to heat up again, so there is no need to be overly pessimistic.
From a technical perspective, the daily chart of Bitcoin shows a continuous decline in recent movements, forming multiple bearish candles, indicating an overall weak pattern. Yesterday's candlestick had a long upper shadow, suggesting heavy selling pressure above. On the hourly chart, the price is oscillating around 108000, with the lows gradually moving downwards. The MACD indicator on the hourly chart is in negative territory, with both DIF and DEA diverging downwards. The momentum bars are shrinking but remain green, indicating a clear bearish trend. The RSI on the hourly chart is at 36.95, close to the oversold zone but not yet signaling a strong rebound; the daily RSI remains below 40, reflecting weak market sentiment. The EMA on the hourly chart shows a bearish arrangement for the 7, 30, and 120 moving averages, with EMA7 being quite distant from the current price, indicating significant short-term pressure; the daily EMA also exhibits a bearish arrangement, with EMA30 posing considerable resistance to the price. In the short term, the coin price appears weak but is approaching a key support level. In terms of operations, one can mainly take short positions on intraday rebounds, with some long positions at lower levels.
Zhou Yanling 10.31 Bitcoin trading strategy:
1. Short at 109600-108800, stop loss above 110600, target 106800-106000, continue to look for a decline around 104500.
2. More than 104500-105300, stop loss below 103500, target 106700-107500.
Zhou Yanling 10.31 Ether trading strategy:
1. Short at 3840-3800, stop loss above 3900, target 3680-3630
2. Buy between 3630-3670, stop loss below 3580, target 3750-3800.
The above analysis and strategies are for reference only. Please bear the risks yourself. The publication of the article may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.
This article is exclusively shared by senior analyst Zhou Yanling. The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency futures/spot operations. The author has a solid theoretical foundation and practical experience, is skilled in combining technical analysis with news-driven strategies, focuses on capital management and risk control, and has a stable and decisive trading style. With a friendly and responsible personality, the author is recognized by many investment friends for sharp and decisive operations. #美联储如期降息25基点 $BTC $ETH