Analyst Liang Qiu: On October 11, short positions in Bitcoin and Ethereum made a remarkable comeback, with a clear trend continuing to be weak.

Bitcoin and Ethereum have been falling since their peaks of 126,000 and 4,750, respectively, and last night there was a brewing waterfall of tens of thousands of points. In the videos from yesterday and the day before, I repeatedly reminded that this round of Ether has risen from 3,820 to around 4,750, and how it rose will also be how it comes down. I also indicated that it would definitely reach this position within two weeks, and it turned out it got there in just two days, and even fell more than expected. The overall trading strategy was perfectly validated. The only downside was that there was a short-term long position around 4,100, followed by a break below 4,060, which continued to chase short positions down to the 3,850 line, also perfectly achieved. The previous videos and articles can be seen for reference.
Currently, the market quickly dropped and then rebounded to a high of 114600 and 3940, followed by another consolidation and drop. The overall trend has weakened, but the short-term volatility is expected to be less. The upper lines at 3950 and 115000 will also become resistance in the short term. As for the support below, it can only refer to last night's low point around 102000 and near 3400. The market will still experience repeated fluctuations and rise and fall during the daytime, so pay attention to the repair situation within the day.
It is recommended to enter short positions for Bitcoin around 113000 to 113500, with a target near 111000; for Ethereum, enter short positions around 3820 to 3850, with a target near 3720.
#CoinDesk9月Gate战绩来袭 #美联储降息预期升温