Yueying: Bitcoin and Ethereum market analysis for October 17th. Auntie is too accurate in shorting. Black Friday continues to be weak.
Technical Analysis of Big Cake: The daily chart shows a series of consecutive declines. The previous candlestick closed negative, testing the 200-day moving average (EMA). The intraday opening rebounded slightly and continued to test the lower band. The Bollinger Bands are slightly open, and the short-term moving average has turned downward. The MACD fast and slow lines have extended downward, breaking through the 0 axis. The volume bar continues to increase, and the KDJ indicator is trending downward. Note the support near 0. The VR indicator is consolidating around 90. The four-hour chart shows an overall volatile decline. The candlestick has fallen below the lower band. The Bollinger Bands are opening downward, and the short-term moving average has extended downward. The MACD fast and slow lines have crossed downward again, and the volume bar has increased again. The KDJ indicator turned upward, then encountered resistance and crossed downward again. The VR indicator is consolidating around 70. Overall, the market is in a volatile downward structure, initiating a second bottoming-out pattern. Be wary of another Black Friday today, Friday. Short-term weakness remains the main trend. Upward short-term resistance is below 108,000. Downward support is focused on two points above 103,000, followed by the pinnacle. Short-term recommendations. Bitcoin short-term recommendation: short at 107,500, long at 103,500 (long at 101,880) (profits are at your discretion once the strategy is activated). My short-term strategy above is incredibly accurate: long at 3938, short at 4088, and long at 3830, leaving over $200 of room for both long and short positions. The technical trend is similar to Bitcoin, so you can use it as a reference. Short-term support is focused around 3700, and if it breaks, watch for 3600. Resistance is below 3880, and we'll see short-term recommendations. My short-term recommendation: short at 3830, long at 3720 (long at 3618) (For more currency analysis, click on the image to see my profile on the homepage). —I'm Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, please come and discuss with me! Let's share and profit together!