Crypto Circle Liying: Is the market bearish engulfing trend coming on October 31? Latest market analysis and trading suggestions for Bitcoin and Ethereum
Bitcoin is currently priced at 107900, Liying predicts a clear downward trend for Bitcoin. The technical indicators show strong bearish signals, with K-line forming a bearish engulfing pattern, and the moving average system displaying a bearish arrangement, recently showing a death cross, indicating that the sellers are strengthening their market momentum. At the same time, the price is approaching a key support level of 106666. If this level is broken, it may further intensify the downward pressure. The daily line has formed a large bearish candlestick with the bearish forces dominating the market. In the 2-hour timeframe, there has been some consolidation around 108000, with signs of stopping the decline in the short term, but overall, it remains in a downward trend. The MACD on the 2-hour timeframe shows weakening bearish momentum but has not yet turned strong. EMA may face technical rebound pressure in the short term, while the long-term trend still leans bearish. Liying believes that the main strategy should be to sell on rallies, with some support for buying at lows.
Short-term strategy reference:
Buying point at 106500, stop loss at 106000, stop loss of 500 points, target at 108500.
Selling point at 109500, stop loss at 110000, stop loss of 500 points, target at 107000.
Latest Ethereum market analysis
Before publishing, Ethereum is currently priced at 3780. Liying observes that Ethereum is in a downward trend, with technical indicators showing enhanced bearish momentum, but the price is close to a strong support level of 3706 and accompanied by the appearance of a bullish reversal engulfing pattern, which may create a rebound resonance. The trend indicators still show a bearish arrangement and death cross, and the trading volume has significantly increased alongside the price decline, resulting in a volume-price divergence, indicating that the market has not fully escaped downward pressure. The 2-hour timeframe has gradually risen from a low of 3763 to 3779, forming a small bullish candlestick, but overall, it remains in a weak state, with the daily line having declined for three consecutive days, reaching a low of 3758, showing a clear bearish trend. The MACD on the 2-hour timeframe is still dominated by bearish forces, and the EMA shows clear downward divergence, indicating significant pressure from short-term, medium-term, and long-term moving averages, and the trend still leans bearish. With such a clear trend, Liying believes that everyone will not go against the trend, and naturally, the focus is on bearish positions.
Short-term reference points:
Selling point at 3950, stop loss at 4000, stop loss of 50 points, target at 3750.
Buying point at 3700, stop loss at 3650, stop loss of 50 points, target at 4000.
The content of this article is real-time and for reference only; risk is borne by the reader.
$BTC $ETH #BTC合约 #ETH合约 #ETH #BTC