Yueying: Bitcoin and Ethereum Market Analysis on October 31 - Retesting Key Support Levels - Can the Large Trading Range Structure Be Changed?

Bitcoin Technical Analysis — On the daily chart, Bitcoin rebounded after testing the bottom with a bearish candlestick. Intraday opening saw a test of the EMA200. The Bollinger Bands are flat, short-term moving averages are turning downwards, the MACD fast and slow lines have turned downwards and are flattening, the volume bars are shrinking, the KDJ is crossing downwards but showing signs of turning upwards, and the VR indicator is consolidating around 60. On the 4-hour chart, after breaking below the lower Bollinger Band, the price rebounded with consecutive bullish candlesticks, breaking through the 7-day moving average and testing the middle Bollinger Band. The Bollinger Bands are trending downwards and showing signs of narrowing, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards but showing signs of turning upwards, the volume bars are shrinking, the KDJ is crossing upwards, and the VR indicator is consolidating around 70. Overall, the structure remains unchanged, still within a large range. As previously mentioned, the price is expected to maintain this structure for some time, so continue to treat it as a large range. Short-term entry points should be found at minor resistance and support levels within the large range. Short-term support is around 107000; if this level breaks and then falls below 106000, the next support level to watch is around 104000. The upper resistance level to watch is around 112,000, followed by around 114,000. See short-term suggestions. Bitcoin short-term suggestions: Short at 111,500 (Short at 113,300), Long at 107,800 (Long at 104,500) (Take profits as needed). Ethereum is testing support around 3700 again and rebounding. Continue to watch this support level in the short term; if it breaks, watch for support above 3530. Resistance is around 4000, below and above; see short-term suggestions for specifics. Overall, the technical analysis is linked to Bitcoin for reference. There may be no update on Saturday; strategies can be used as long as they don't deviate too far. See short-term suggestions. Ethereum short-term suggestions: Short at 3958 (Short at 4020), Long at 3730 (Long at 3588) (Click the image to see the homepage introduction for more coin analysis). —I am Zhou Yueying.