Trader Gu Jingci: Bitcoin/Ethereum Trading Strategy and Market Analysis for October 30

Bitcoin/Ethereum prices rapidly declined during the early morning and early trading session, breaking below recent lows of 79,000 and 2,280, reaching as low as 76,400 and 2,170 respectively. The overall trend remains weak. Although there has been a slight rebound, the strength of the recovery is limited. Watch for a second attempt to rise toward 79,700 and 2,295 in the early session; if these levels hold as resistance, further upward moves are likely followed by renewed downward pressure. On the 4-hour chart, multiple large bearish candles with high volume have confirmed the formation of a short-term downtrend, indicating strong selling pressure. While the downward momentum has slightly slowed, the market remains fundamentally weak. Technically, both DIF and DEA are below the zero line. Although DIF is above DEA, the MACD histogram has contracted compared to last week, signaling weakening bullish momentum and suggesting the bearish trend may continue. Weekly and monthly charts still show a bearish structure—monitor how the market recovers over the next two days and watch for resistance at key highs. Trading suggestion: Enter short positions on Bitcoin around 78,700–79,200 with a target near 77,500; enter short positions on Ethereum around 2,260–2,280 with a target near 2,210. Analysis and strategies are for reference only—trading carries risk. This article may not reflect real-time data; always verify with live market conditions.