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Market Analysis Meeting Minutes for October 8
I. Current Market Conditions and Trading Recommendations
1. Bitcoin (BTC)
- Current Position: Around 102,300
- Trading Advice: You can directly go long at market price, with a take-profit target near 103,200; if it reaches 103,300 (showing a high-shooting star signal), consider shorting.
- Key Levels: Support at 101,800; short-term oscillation is expected around this support level.
2. Ethereum (ETH)
- Trading Advice: Follow the same approach as Bitcoin; exit long positions around 3,470-3,480, then consider shorting.
- Key Levels: Strong resistance at 3,505; if not broken, it is likely to face downward pressure.
II. Core Views
1. Weekend Market Characteristics: Based on past experience, weekends are unlikely to see a one-sided trend, mainly oscillating up and down. Today leans toward upward oscillation.
2. Trading Rhythm: First, take advantage of a wave of long positions within a confirmed range; after a rebound to previous highs (such as BTC at 103,300 or ETH near 3,505), consider shorting. Cautious traders can wait to short at high levels.
3. Future Observation: Tomorrow, adjust short strategies based on market changes. Pay attention to whether the market tests new lows or rebounds strongly.
III. Summary
Today’s market mainly features oscillation. It is recommended to operate around key levels for swing trades. After taking profits on longs, promptly switch directions, control position sizes, and trade cautiously. Continuous monitoring and analysis of the market will be maintained tomorrow.